Oct 18, 2019 | MedBen Rx, MedBen Rx Advocate, Pharmacy Benefits Manager (PBM), Prescription, Rx Costs, Spread Pricing, Transparency
A key to reducing pharmacy plan costs is to eliminate the use of spread pricing – the difference between what pharmacy benefit managers (PBMs) charge employer plans for drugs and what the actual pharmacy pays for them. Often, this “spread” can be substantial, as PBMs...Aug 28, 2019 | Cost Savings, MedBen Rx, MedBen Rx Alliance, Prescription
It makes sense that qualified hospitals can purchase drugs at prices lower than even the largest retail chain. But what if we told you that you may be eligible to reap the benefits of this as well? If you’re a hospital, local school system, university or other...Jul 28, 2019 | Announcements, Claims Management, Client Report, MedBen Analytics, MedBen Employees, MedBen Rx, MedBen University, MedBen WellLiving, News, Self-funding, Third party administration
“2019 marks the 30-year anniversary of Medical Benefits Administrators (MBA). The third party administrator began as a subsidiary… but has grown into our signature enterprise” states Kurt Harden, President and CEO of MedBen, in the 2019 Client Report. Over those 30...Jul 14, 2019 | Account Management, Cost Savings, MedBen Rx, MedBen Rx Advocate, Rebates
Many employers get caught up in the promised savings offered by rebate guarantees… but little do they know this could actually be costing them money, for several reasons. The first issue with rebate guarantees is that the most significant rebates are associated with...Jun 13, 2019 | Cost Savings, MedBen Rx, MedBen Rx Advocate, Pharmacy Benefits Manager (PBM), Prescription
A recent article in the Columbus Dispatch highlights how pharmacy benefits managers (PBMs) are making big profits on the backs of the taxpayers and threatening the existence of the independent pharmacy. The article focuses on the Ohio Medicaid program, but this issue...May 30, 2019 | Cost Savings, MedBen Rx, Pharmacy Benefits Manager (PBM), Prescription, Rebates, Transparency
The MedBen Rx approach to drug pricing is straightforward. We keep client costs low by reimbursing pharmacies what they pay for prescription drugs, plus a reasonable dispensing fee. By doing so, we ensure that self-funded employers get the maximum value from their...