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Category: "Cost savings"

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05/06/19

Case Study: Direct Contracting Further Lowers Client Costs

MedBen facilitates direct-to-employer contracting, bringing together employers and providers in plans that promote regional care. Recently, a client looking for cost reduction opportunities saw the benefits first-hand. A manufacturer with a traditional… more »

05/05/19

  11:52:00 am, by MedBen5   , 183 words,  
Categories: Prescription, Cost savings, MedBen Rx, MedBen Rx Advocate, MedBen Rx Alliance

MedBen Clients Reduced Costs Nearly 3% Using Rx Solutions

Employers who utilized MedBen pharmacy solutions in their 2018 plans realized an average 2.7% decrease in per-member spending from 2017. The cost reductions coincide with last year’s emergence of MedBen Rx’s innovative programs to help clients lower… more »

04/21/19

MedBen Municipality Clients Saw Lower Claim Costs in 2018

"In 2018, per-employee net claim costs for our municipality block decreased 4.9% from 2017," announced MedBen Vice President of Sales & Marketing Brian Fargus at the 13th Annual Municipality Roundtable on April 11. This reduced cost factors both… more »

04/05/19

  03:25:00 pm, by MedBen5   , 191 words,  
Categories: Prescription, Cost savings

Overprescribing Drugs Raises Costs, Health Risks

The ongoing movement to reduce prescription drug spending focuses primarily on the cost factor. But as Shannon Brownlee and Judith Garber contend in a Stat opinion piece, overprescribing of drugs also carries financial and health risks. "Between 2000… more »

03/08/19

  01:27:00 pm, by MedBen5   , 197 words,  
Categories: Prescription, Cost savings, MedBen Rx, MedBen Rx Advocate, MedBen Rx Alliance

All MedBen Clients Can Benefit from Rx Solutions

MedBen Rx offers every MedBen client a better way to provide and manage prescription benefits, regardless of their size or industry type. Our pharmacy solutions counter inflated prescription list prices with common-sense saving strategies.… more »

02/23/19

  03:27:00 pm, by MedBen5   , 232 words,  
Categories: Prescription, Cost savings, Transparency, Specialty Drugs, MedBen Rx, Rebates

Government Fixes to Rx Prices a Slippery Slope

A recent Wall Street Journal editorial warns that government efforts to address prescription drug prices could produce undesirable consequences… and it's why MedBen Rx believes that market-driven solutions are the preferable method to reducing consumer… more »

02/22/19

  11:58:00 am, by MedBen5   , 197 words,  
Categories: Announcements, Cost savings, Third party administration, Claims management

Talent and Technology Combine to Reduce Claim Costs

MedBen takes pride in its expert claim examiners – indeed, in our most recent audit our team received a payment accuracy rating of 99.9%. But when we receive a claim that merits further inspection, our advanced surveillance system lends a hand.… more »

01/27/19

  02:39:00 pm, by MedBen5   , 264 words,  
Categories: Prescription, Cost savings, MedBen Rx

While Titans Battle Over Drug Costs, MedBen Rx Offers Solutions

A recent high-profile disagreement between Walmart and pharmacy benefits manager (PBM) CVS Caremark exemplifies the friction between pharmacies and PBMs about prescription pricing... and the power that PBMs possess to influence drug costs. MedBen Rx was… more »

01/25/19

  01:30:00 pm, by MedBen5   , 181 words,  
Categories: Cost savings, Claims management, Reference-based pricing

"The Case of the Overpriced Robot"

From plan design consulting to an advanced surveillance system, MedBen claims management uses multiple measures to ensure that your plan pays the proper price for health care services… but at the core is our team of experienced claim examiners. To cite… more »

01/13/19

  11:22:00 am, by MedBen5   , 217 words,  
Categories: Prescription, Discounts, Cost savings, Research, MedBen Rx, Rebates

Fight Back Against New Year’s Drug Price Increases

New year, higher drug prices. According to The Wall Street Journal, a representative analysis of major pharmaceutical companies found that the prices of their brand name and generic drugs have risen by an average of 6.3% in 2019 – modest compared to… more »

12/30/18

A Note from Our Executive Chairman and President

To our customers, consultants, and brokers: Happy new year from MedBen! In 2018 we celebrated our 80th anniversary, which gave us a chance to reflect on our beginnings and growth as a health benefits manager. It's great to reminisce but we prefer to… more »
  03:46:00 am, by MedBen5   , 357 words,  
Categories: Prescription, Discounts, Cost savings, MedBen Rx, Rebates

AWP Smoke and Mirrors

Drug pricing can be a confusing business… and much of the confusion stems from a drug’s average wholesale price, or AWP. Simply defined, the AWP is the average price that a pharmacy or other retailer pays a wholesaler for a drug. But as straightforward… more »

12/28/18

  11:17:00 pm, by MedBen5   , 126 words,  
Categories: Announcements, Prescription, Cost savings

2019 Formularies Now Available at MedBen.com

Formulary updates for prescription plans administered by Ventegra and Pharmacy Data Management, Inc. (PDMI) are now available at MedBen.com – simply click on “Plan Sponsors” (for employers) or “Plan Members” (for insureds) and select “Prescription… more »

12/02/18

  09:23:00 pm, by MedBen5   , 213 words,  
Categories: News, Hospitals, Cost savings, Reference-based pricing, Medicare, Alternative plan design

New Medicare Pricing Tool Useful to RBP Plans

To improve medical cost transparency, the Centers for Medicare & Medicaid Services (CMS) has announced a new Medical pricing tool for surgical procedures that will also benefit certain reference-based pricing (RBP) plans. The Procedure Price Lookup… more »

11/05/18

  11:09:00 pm, by MedBen5   , 243 words,  
Categories: Prescription, Cost savings, MedBen Rx

Generic Drugs: Effective and Cost-Efficient

As the prescribing of generic drugs has become more commonplace, most consumers have come to see that these medications work just as well as their pricier band-name equivalents. Indeed, when a generic alternative is available, MedBen clients see a 98%… more »

10/21/18

  08:47:00 pm, by MedBen5   , 221 words,  
Categories: Discounts, Online Services, Cost savings, Transparency, Legislation, MedBen Rx, Rebates

MedBen Rx Solutions Put Transparency Up Front

Drug pricing transparency is currently a hot government topic: On October 10, President Trump signed two bills designed to end the drug industry's "gag order" of pharmacists, which prevent them from discussing cheaper price options with consumers.… more »

10/07/18

  09:25:00 pm, by MedBen5   , 348 words,  
Categories: Cost savings, Pharmacy benefit manager (PBM), MedBen Rx, MedBen Rx Advocate, MedBen Rx Alliance

MedBen Fights Back Against PBM Spread Pricing

Spread is a little-discussed aspect of prescription drug pricing, but its impact on pharmacy plan costs can be huge… and it’s why MedBen has responded with new pharmacy programs designed to remove spread from the cost equation altogether. Simply… more »

10/04/18

  05:40:00 pm, by MedBen5   , 229 words,  
Categories: Wellness, Stop-loss, Reporting, Cost savings, Self-funding

Strong Economy Adds to Self-Funding Appeal

A strong economy and low unemployment contributed to an increase in employers offering health coverage in 2017, finds a new study by the Employee Benefit Research Institute. The increase halted a decade-long trend in which some companies dropped their… more »

09/23/18

  04:15:00 pm, by MedBen5   , 209 words,  
Categories: Cost savings, MedBen Analytics, Bundled Payments, Reference-based pricing

Bundled Payments: The Future of Health Care Reimbursements?

Health care payers are continually looking for ways to reduce medical spending. One such concept that has gained traction in recent years is the bundled payment system, in which a provider is paid for a complete episode of care, rather than paid… more »

09/17/18

“New” Drug Pricing Tools? Not for MedBen

A Managed Healthcare Executive article spotlights "New Drug Pricing Tools Could Save Money" -- among them, a recently launched "real-time benefits tool" that shows out-of-pocket costs for medications based on a patient's plan benefits. Sound like a… more »

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