Mar 5, 2024 | Appropriateness Solutions, Comparative Effectiveness, Cost Savings, Drug costs, MedBen Rx, Rx Costs, Savings, Value
At January’s Benefits Advisory Conference, MedBen President & CEO Kurt Harden observed that when the Food and Drug Administration (FDA) evaluates a new drug to be approved for sale, it has to be safe and effective, but not necessarily superior to...
Dec 22, 2023 | Acquisition Cost Index (ACI) pricing, Cost Plus Pricing, Cost Savings, Drug costs, MedBen Rx, Pharmacy, Prescription, Rx Costs, Savings, Spread Pricing
Spread pricing is the difference between what pharmacy benefit managers (PBMs) charge health plans for drugs and what the pharmacy actually pays for them. Often, this “spread” can be substantial, as PBMs profit greatly from their lack of transparency… so it’s not...
Oct 16, 2023 | Cost Savings, MedBen Rx, Pharmacy, Prescription, Rx Costs, Savings
From a new report published by the U.S. Department of Health & Human Services: “Over the period from January 2022 to January 2023, more than 4,200 drug products had price increases, of which 46 percent were larger than the rate of inflation. The average drug...
Sep 15, 2023 | Caroline Fraker, Drug costs, Drug reimportation, Prescription, Rx Costs
MedBen Senior Vice President Caroline Fraker was a featured speaker at the 10th Annual Sherrill-Morgan Healthcare Innovation Conference on September 15th. She spoke on the topic of drug importation, including the reimportation of U.S. manufactured prescription drugs...
Sep 5, 2023 | Alternative Reimbursement Strategies, Claims, Comparative Effectiveness, Cost Savings, Direct-to-Employer Contracting, Drug costs, Fair Market Pricing, Forensic claims review, High-cost claims, Inflation, MedBen Rx, MedBen WellLiving, Reference-Based Pricing, Rx Costs, Savings, Self-funding, Specialty Care, Survey, Wellness
A new survey by International Foundation of Employee Benefit Plans found employers expect plan costs to increase seven percent in 2024. As to why, they gave a range of answers, with the top four reasons representing 71 percent of responses (see chart below). As it...
Aug 7, 2023 | Access solutions, Case Studies, Cost Savings, Drug costs, Limited use HRA, MedBen Rx, Patient advocacy program, Pharmacy, Rx Costs, Savings, Specialty Drugs
With specialty drugs now making up about half of total drug spending – and poised to go even higher as more new specialty drugs roll out every year – the need for workable access solutions grows. Fortunately, MedBen Rx has them. Our unique approach incorporates a...