Proactive Solutions for Pharmacy Benefit Cost Management
When it comes to prescription drug spending, there is more to the savings equation than unit cost. To become more proactive in controlling pharmacy spend, employers must focus on managing every attribute of their pharmacy benefit which includes drugs (what drugs are available at the lowest cost), channel (from where patients receive their drugs and how they best leverage the lowest cost channels), supplier (maximizing the relationship with the pharmacy benefit manager), and care (realizing that drug therapy is only one aspect of a patient’s care).
As shown below, larger employers are doing a better job of utilizing proactive cost management strategies, but these solutions can be implemented and provide real savings to a plan of any size. With Rx Solutions, MMA has established a model that meets the needs of the midsize employer, thereby, providing access to best-in-class pricing, improved trend management, expert PBM negotiations and innovative solutions leading to more control over the pharmacy program.