Spending in the US for prescription drugs is about 6 times what it was one decade ago.
The average number of retail prescriptions per capita was 12.6 last year.
Demand for prescriptions is increasing by more than 7% every year.
90% of seniors and
58% of non-elderly adults rely on a prescription drug on a regular basis.
The pharmaceutical industry is among the nation’s most profitable industries with profits averaging 19.6%, compared to 6.4% for all Fortune 500 firms.
Statistics according to
The Kaiser Family
KEYS TO MANAGING PRESCRIPTION DRUG COSTS
Plan Design – Proper plan design and proactive plan management can create powerful incentives for plan beneficiaries to utilize the most cost-effective and medically appropriate prescription treatments.
Drug Utilization Reviews – Regularly reviewing plan design and comparative utilization reports allows for making changes when necessary and ensures the proper structure is in place to maintain incentives and cost objectives.
Education – In addition to plan design, employee education about things such as generic utilization programs or mail order options can positively affect the way members use the plan and the associated costs.
Focus on Wellness – By implementing comprehensive wellness programs, employer groups can have a large influence on improving employees’ health. In doing so, medical expenses, including prescriptions can be reduced. Benefit Health Advisor has the most cutting edge prescription-specific wellness plans available.
Prescription Pricing – Benefit Health Advisor provides the experience and expertise necessary to negotiate the best pricing possible while still providing coverage for medically appropriate care for plan beneficiaries. Leaving no stone unturned, Benefit Health Advisor has used market information on average wholesale price discounts, administration fees, dispensing fees, rebates, etc to obtain propriety pricing that is sure to save you money. At Benefit Health Advisor, we realize that aggressive prescription pricing is imperative to reducing claims cost.