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2015 Trend for MedBen Hospital Clients Less Than 3%

03/25/16

  01:51:00 pm, by MedBen5   , 219 words,  
Categories: Announcements, Prescription, Hospitals, Cost savings, MedBen University

2015 Trend for MedBen Hospital Clients Less Than 3%

MedBen University

At the 14th Annual MedBen Hospital Roundtable on March 24, Vice President of Sales & Marketing Brian Fargus revealed that in 2015, total medical and pharmacy costs for the company's hospital block increased only 2.8% from 2014. This continues a five-year trend of small cost increases for MedBen's hospital clients.

"From 2011 to 2015, the cost trend was only 4.9%," Fargus said. "That's basically just 1% per year."

Hospitals are unique among the industries that MedBen serves in that they can help themselves keep health care spending down by steering plan members to their own facilities for medical care and prescription drugs. Through these and other cost containment strategies, MedBen's hospital clients have managed to keep average cost increases well below national trends.

In his presentation of pharmacy benchmarks, MedBen President & COO Kurt Harden noted that hospital clients are increasingly taking advantage of "own use" prescription dispensing to benefit their bottom line. "At several of our hospital groups, more than two-thirds of plan members' prescriptions are now filled in-house," Harden said.

MedBen will be conducting a Government Roundtable on Thursday, April 7 from 9:00 a.m. to 1:00 p.m. at the C. Arthur Morrow Conference Center in Newark, Ohio. The event is open to interested municipalities, even if they are not MedBen clients. If you would like more information, please contact MedBen Sales Analyst Sally Wood at (800) 423-3151, Ext. 502 or swood@medben.com.

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