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Category: "Discounts"

06/07/16

  09:23:00 pm, by MedBen5   , 340 words,  
Categories: News, Discounts, Health Plan Management, Cost savings, Provider Networks

MedBen (and Employers) Not Catching Merger Fever

The health care industry has become merger-happy in recent months, but many employers want no part of it. Neither, for that matter, does MedBen. According to Modern Healthcare, "several surveys of Fortune 500 companies and other big employers reveal… more »

05/26/16

  10:31:00 pm, by MedBen5   , 254 words,  
Categories: News, Prescription, Discounts, Health Plan Management, Reporting, Cost savings

Health Plan Savings Strategy Requires Rx Focus

One risks sounding like a broken record (or a corrupted MP3 file), but it really is important to the long-term financial health of your pharmacy plan to stress the large and ever-widening gap between brand-name and generic drug costs. As drug costs… more »

03/30/15

  08:31:00 pm, by MedBen5   , 203 words,  
Categories: Announcements, News, Prescription, Discounts, Cost savings

MedBen Self-funded Clients See Average 8% Rx Spending Drop In 2014

In 2014, MedBen self-funded clients experienced an overall average 8% decrease in pharmacy spending per member per month while most employers were experiencing 12% increases. Employers who worked with MedBen drove higher generic utilization by aligning… more »

10/06/14

  09:38:00 pm, by MedBen5   , 457 words,  
Categories: News, Discounts, Health Plan Management

Advanced Claims Surveillance Helps To Protect Against Questionable Billing

The New York Times recently shared the story of Peter Drier, a 37-year-old bank technology manager who underwent neck surgery for herniated disks last December. Mr. Drier had done his homework prior to the procedure, so he had a pretty good idea of the… more »

03/16/12

  04:50:23 pm, by MedBen5   , 240 words,  
Categories: Prescription, Wellness, Discounts, Health Plan Management

MedBen Helps Employers Overcome Cost Challenges

A recent Towers Watson survey of over 500 businesses reveals the wide range of difficulties employers face when trying to keep health care costs in check. As listed on the MedCity News website, the top ten challenges include: Employees’ poor health… more »

01/17/11

  04:27:50 pm, by MedBen5   , 317 words,  
Categories: News, Discounts

MedBen Saves Clients Millions On Unnecessary Heart Implant Devices

MedBen sets itself from the competition by offering cost containment measures that go beyond plan provisions and network discounts. Here on the Blog, we frequently discuss our claims surveillance system that saves clients an average of 46 percent on… more »

05/07/10

  10:47:08 am, by MedBen5   , 176 words,  
Categories: Discounts, Health Plan Management

Shopping for a Doctor the Smart Way

In the market for a GP? Take a look at this blog entry, written by a family physician, that suggests what to look for when choosing a new primary care doctor. Board certification, high marks on his or her “report card on quality", and a cordial… more »

02/04/10

  01:14:09 pm, by MedBen5   , 189 words,  
Categories: Prescription, Discounts, Health Plan Management

Employers Demanding Transparency from PBMs

Employee Benefit News reports that rising prescription drug costs are spurring employers to push pharmacy benefit managers (PBMs) harder than ever for greater transparency and maximum rebates on generic and brand-name medications. But for MedBen… more »

09/11/09

  01:28:22 pm, by MedBen5   , 255 words,  
Categories: Announcements, Discounts, Health Plan Management

MedBen Claims Surveillance System Savings Exceed $10 Million

MedBen has just achieved an impressive benchmark. In its first two years of operation, its advanced claims surveillance system has saved clients 10.4 million dollars – savings over and above plan provisions, network discounts and medical management.… more »

07/31/09

  12:54:09 pm, by MedBen5   , 134 words,  
Categories: Announcements, Discounts, Health Plan Management

Claims Surveillance System Savings Near $10 Million

At a MedBen health plan language seminar on July 29, AWAC Vice President of Cost Containment Dr. Luke Burchard announced that since implementing new claims surveillance software in September 2007, MedBen clients have saved $9.97 million. “That means… more »

07/07/09

  11:38:37 am, by MedBen5   , 225 words,  
Categories: News, Prescription, Discounts

Health Care Industry Facing Medicare Cuts

While Congress labors to hash out a workable overhaul of the health care system, President Obama is pushing cost savings through Medicare cuts to hospitals, pharmaceutical companies and medical specialists – just part of a proposed $313 billion health… more »

05/28/09

  05:15:04 pm, by MedBen5   , 273 words,  
Categories: Wellness, Discounts, Health Plan Management

Paying for Prevention?

An article on The Wall Street Journal website offers some cautionary food for thought regarding preventive care. It highlights multiple instances of patients who received such preventive services as colonoscopies and mammograms under the (correct)… more »

02/27/09

  04:20:45 pm, by MedBen5   , 164 words,  
Categories: Announcements, Discounts, Health Plan Management

MedBen Cost Containment Saves Clients Over $7 Million

The savings keep on coming! Since introducing new claims cost containment measures in September of 2007, MedBen has saved clients an additional $7.3 million as of February 2009 – over $2 million the past six months alone! This is savings produced… more »

02/17/09

  04:01:55 pm, by MedBen1   , 185 words,  
Categories: Prescription, Discounts, Health Plan Management

Generic Drug Use Hits New High - MedBen Clients Beat Average

Generic drug use in pharmacy benefit plans reached an average of 60.4% in 2008 according to the Takeda Prescription Drug Benefit Cost and Plan Design Report, 2008-2009 edition. MedBen clients experienced generic drug use averaging nearly 10% greater… more »

02/04/09

  05:24:43 pm, by MedBen5   , 227 words,  
Categories: Prescription, Discounts, Health Plan Management

Breaking Down Drug Costs

Just how do pharmaceutical companies price their products? As this article in the Employee Benefit News reveals, it doesn’t happen in a vacuum, and it involves quite a bit of number-crunching. Multiple considerations go into the drug pricing… more »

11/18/08

  10:15:45 am, by MedBen5   , 225 words,  
Categories: Prescription, Discounts, Health Plan Management

Battling Back Against Rising Rx Costs

Rising prescription costs may be an unavoidable reality of our health care system, but that doesn’t mean that consumers have to take the high prices at face value. This Wall Street Journal article offers some good ideas on how to keep… more »

07/24/08

  10:40:13 am, by MedBen5   , 191 words,  
Categories: Prescription, Discounts, Health Plan Management

Generics and the "Pass-through" Principle

The Wall Street Journal Health Blog reports on the practice of pharmacy benefit managers (PBMs) marking up the prices of generic drugs. The PBMs negotiate discounts with pharmacies, but rather than passing the full value of the discounts onto clients,… more »

07/10/08

  04:48:18 pm, by MedBen5   , 292 words,  
Categories: Discounts, Health Plan Management, Incentives

The “Guaranteed Discount” Myth

MedBen recently came across a “guaranteed discount” from a competitor that so defied belief, we thought we should share some of the details, as a public service. First, the competitor offered a “targeted” 43% discount guarantee – that is, the… more »

10/03/07

  09:26:50 am, by MedBen1   , 182 words,  
Categories: Wellness, Discounts, Health Plan Management, Incentives

Lower health plan costs tied to health focus, plan management over discounts

Employers with the lowest comparable health costs focus on strong clinical programs and solid plan management over proclaimed discounts, according to the 2007 SHPS Health Practices Study (you can download the study here). According to SHPS’s CEO… more »