Get the free newsletter helping employers optimize their pharmacy benefits plan by lowering prescription drug costs and improving the health of their plan members.
how to fix your pharmacy benefits plan
|
Pharmacy Benefits Uncut Read time: 4 min Pharmacy benefits is one of the most complicated and costly parts of your healthcare benefits plan with seemingly no end in sight to drug price increases. But with some knowledge and strategic effort you can drive down your drug spend while at the same time ensuring your members have access to the most effective therapies. The first step in this process is to arm yourself with the knowledge required to make data-driven decisions about your drug plan. So herewith is a summer reading list focussing on four topics to help you optimize your pharmacy benefits. 1) How PBMs really work Why rebates increase drugs prices, not decrease them How PBMs manipulate your formulary What you need to know about PBM reform 2) How to evaluate whether a drug is effective Defining innovation in drug therapies Interpreting evidence about drugs Understanding the basics of comparative effectiveness 3) How to address the needs of your plan members A plan member engagement strategy Integrating health equity into your pharmacy strategy A guide to comprehensive medication management 4) Practical steps to begin optimizing your pharmacy benefits plan A strategy to learn key pharmacy benefits concepts What’s keeping you stuck using the same old pharmacy benefits strategy Things you can do to start optimizing your drug plan I hope this reading list helps you take the steps you need to optimize your pharmacy benefits plan. A little bit of knowledge can go a long way towards achieving the dual aim of reducing your drug costs and improving health outcomes for your members. That’s all for today. See you in two weeks, Nina If you know someone who would find this newsletter useful please share it. Was this newsletter forwarded to you? Sign up here. Pharmacy Benefits Uncut is produced by Healthcare Decision Making, a consultancy that helps small and medium sized employers optimize their pharmacy benefits plan. We offer a comprehensive range of services focused on three areas: PBM procurement, ongoing management of your pharmacy benefits plan, and self-policing and oversight of your pharmacy spend. To learn more about how Healthcare Decision Making can help you, email Nina Lathia at nina.lathia@healthcaredecisionmaking.com |
Pharmacy Benefits Uncut
Get the free newsletter helping employers optimize their pharmacy benefits plan by lowering prescription drug costs and improving the health of their plan members.
Pharmacy Benefits Uncut Read time: 5 min Read this newsletter online Biosimilars can help employers reduce their drug spend, and implementing a strategy to maximize their use is key to realizing their full savings potential. This is particularly important now as drug spending is the fastest growing category of healthcare spending, and biologic spending is the fastest growing category of drug spending. In an effort to reduce the cost of developing biosimilars and provide faster access to these...
Pharmacy Benefits Uncut Read time: 4 min Read this newsletter online In the quest for a solution to your ever-increasing drug spend you’ve probably considered joining a pharmacy benefits purchasing coalition. They’re positioned to as a way to increase the bargaining power of employers through numbers. And for some employers it works but for others it may yield little savings or even lead to increases in overall pharmacy spend. So today I’m sharing four questions to help you evaluate whether...
Pharmacy Benefits Uncut Read time: 4 min Read this newsletter online Definitions isn’t typically the first word that comes to mind when employers list the reasons for their skyrocketing drug spend. But if you’re like many other employers struggling with the ever-increasing cost of drugs it may have something to do with how your PBM uses definitions against you. Today let’s take a look at some of the ways your PBM might be manipulating definitions to create ambiguity and exert control over...