Webinar Dec. 16: How to Drive Savings Out of Your Self-Funded Health Plan Pharmacy Benefit Management Program

  The costs for healthcare continue to rise and pharmacy benefits are the fast growing portion of this. In this webinar, you’ll learn how a successful pharmacy benefit management program can help save your company significantly on healthcare costs.  We will review examples on how employers are achieving savings via their self-funded health plan and…

How Pharmacy Benefit Managers Control Your Drug Costs

Pharmacy benefit managers, or PBMs, have nine basic tools to control the cost of prescription drugs: 1.   Pharmacy payments. PBMs use their clout to negotiate volume discounts with certain pharmacies, and then steer plan members to these pharmacies. 2.   Generic substitutions. Generic drugs usually cost much less than their branded equivalents. PBMs use…

How Pharmacy Benefit Managers Help You Control Drug Costs

Here’s a brief overview of how pharmacy benefit managers (PBMs) can help control employee prescription drug costs. Your PBM plays an important role in helping control employee drug expenses. PBMs manage approximately 70 percent of the 3 billion+ prescriptions dispensed each year in the U.S. Today, approximately 95 percent of patients with drug coverage receive…

A Bitter Pill: The High Cost of Specialty Drugs

The good news: Pharmaceutical companies are developing a range of drugs to treat diseases that are chronic and/or rare. The bad news: Their high (some might say outrageous) cost. Overall, prescription drug prices rose 12 percent in 2014. Sales of specialty drugs contributed greatly to the jump. Specialty drugs: Are usually self-administered, high cost, injectable…