A Discussion Around The Election, Prescription Drugs & Lowering Costs
Jeff Post, Chief Clinical Officer of OneDigital's Pharmacy Consulting Division (RxConnections), jumps on the podcast to talk about the impact the election may have on prescription drugs and pharmacy plans, discussing what employers can be doing to keep the skyrocketing costs down, and how we can help employees maximize their drug benefit. They cover rebates, direct to consumer marketing, "pharmacy vacations," how to assess your Pharmacy Benefit Manager's (PBM's) performance and much more.
Business & HR Leaders were bracing for rising benefits costs this year - and that was before the pandemic. Pharmacy benefits typically represent nearly 30% of a company's total healthcare expenses and are predicted to increase by roughly 6% annually through 2025. This week's episode dives into what employers can be doing to manage their costs, how to help employees maximize their drug benefit, and the impact the election may have on prescription drugs.
About OneDigital Pharmacy Consulting
Prescription drugs are not only an integral part of the benefits you offer but ensure your employees receive quality healthcare. In an era of Pharmacy Benefit Manager (PBM) consolidation, skyrocketing specialty drug cost and over-utilization, 10-15% of pharmacy spend is lost due to unfavorable pharmacy contracts. Mismanaged pharmacy benefits can result in excess Rx spend up to 20%.
About OneDigital Pharmacy Consulting
Prescription drugs are not only an integral part of the benefits you offer but ensure your employees receive quality healthcare. In an era of Pharmacy Benefit Manager (PBM) consolidation, skyrocketing specialty drug cost and over-utilization, 10-15% of pharmacy spend is lost due to unfavorable pharmacy contracts. Mismanaged pharmacy benefits can result in excess Rx spend up to 20%.
Through a comprehensive clinical review and thorough customer education, OneDigital’s pharmacy consultants take a unique approach that combines an in-depth claims analysis, emphasizes appropriate utilization and a rigorous provider contracting process to take risk-mitigation to the next level. Learn more here.
Access our latest Advisory Session mentioned on the podcast, Uncovering the Truth Behind Your Pharmacy Spend.
Access our latest Advisory Session mentioned on the podcast, Uncovering the Truth Behind Your Pharmacy Spend.
Music By: Colin Cross Mus
