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Category: "Cost savings"

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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 »

09/09/18

  06:41:00 pm, by MedBen5   , 241 words,  
Categories: Wellness, Reporting, Cost savings, Preventive care, Primary care

Why the Right Wellness Approach Matters

A recent wellness study confirms something that MedBen has known for a long time: If you want your workplace wellness program to succeed, the "physician first" approach is the way to go. According to BPS Research Digest, researchers tracked multiple… more »

08/24/18

  05:42:00 pm, by MedBen5   , 162 words,  
Categories: Cost savings, Reference-based pricing, Dialysis

Costly Dialysis Legislation Should Spark Plan Language Change

If you've been on the fence about using reference-based pricing (RPB) for your plan members' dialysis services, now is the time to make the move. The American Journal of Managed Care reports that a recently passed bill includes “pay for” legislation… more »

08/10/18

  01:42:00 pm, by MedBen5   , 235 words,  
Categories: Cost savings, Third party administration, Compliance, Self-funding, Regulatory

Self-Funding: Savings, Flexibility, Regulatory Freedom

There are plenty of benefits for employers who make the switch from fully-insured health care coverage to self-funding – and we’d be happy to share them all with you anytime – but perhaps the best reasons can be summed up quite simply: Savings,… more »

07/01/18

  03:23:00 pm, by MedBen5   , 237 words,  
Categories: Prescription, Wellness, Cost savings, Research, Third party administration, Preventive care, Compliance, Trend

Beating Cost Trend Difficult, But Not Impossible

"Healthcare costs increasing at unsustainable pace" a recent Modern Healthcare headline reads. In a new study, PricewaterhouseCoopers predicts a 6% medical cost trend in 2019, as expensive new medical services and drugs and market consolidation make it… more »

06/17/18

  08:13:00 pm, by MedBen5   , 229 words,  
Categories: News, Cost savings, Pharmacy benefit manager (PBM)

Government Talks about Rx Costs, But MedBen Already Has Solutions

During recent testimony to a Senate committee, Health and Human Services Secretary Alex Azar floated the idea of eliminating the rebates that drug companies and pharmacy benefit managers (PBMs) use in price negotiations. As noted on Bloomberg.com, "PBMs… more »
  07:54:00 pm, by MedBen5   , 221 words,  
Categories: Cost savings, Third party administration, Claims management, Plan language

Carving Out a Costly Provider

Plan language carve-outs don’t have to be limited to medical procedures or drug classes. If a provider charges above reasonable and customary prices, then an employer can amend their plan to direct that the provider’s claims should be processed using… more »

05/08/18

  06:20:00 pm, by MedBen5   , 179 words,  
Categories: Prescription, Cost savings, Specialty Drugs

MedBen Rx Strategies Help Employers Face Pricing Challenges

A recent Washington Post article highlights the machinations that drug companies will use to ensure that insurers and other private-sector sources pay for their products, rather than price-controlled public services like Medicare. One common… more »

04/22/18

  10:40:00 pm, by MedBen5   , 295 words,  
Categories: Prescription, Cost savings, MedBen University, Transparency

Rx Rebate Guarantees? Beware!

At a recent MedBen University event, MedBen Vice President of Sales & Marketing Brian Fargus warned attendees against drug rebate guarantees that promise a lot but deliver little… and end up costing the employer more. “Some of the larger health… more »

04/20/18

  10:59:00 pm, by MedBen5   , 231 words,  
Categories: Cost savings, MedBen University, Claims management

“The Case of the Painful Pinkie”

Clinical reviews are an essential component of MedBen claim management, as our team of medical specialists ensures that your plan’s claims are paid accurately and in line with prevailing regional costs. At our recent MedBen University roundtables,… more »

04/08/18

  09:25:00 pm, by MedBen5   , 227 words,  
Categories: News, Prescription, Cost savings, Transparency

MedBen Rx Advocate Closes the Price Gap

Newly appointed Health and Human Services Secretary Alex Azar says he wants to see greater transparency in drug pricing. In an address to the Federation of American Hospitals last month, Azar noted that “in both healthcare services and pharmaceuticals,… more »

03/25/18

  11:37:00 pm, by MedBen5   , 371 words,  
Categories: Prescription, Cost savings

Zaenger Outlines Benefits of “Cost Plus” Difference, Offers Rx Plan Suggestions

Among the speakers at several of this year's MedBen University sessions is pharmaceutical consultant Allan Zaenger, President of Pharmaceutical Horizons. In his presentations at recent roundtable events, he outlined plan design options employers should… more »
  09:34:00 pm, by MedBen5   , 320 words,  
Categories: News, Prescription, Reporting, Cost savings, MedBen University, Self-funding, Trend

MedBen Hospital, Municipality Roundtables Spotlight Client Cost Trends

At two recent industry-specific MedBen University (MBU) roundtables, MedBen Vice President of Sales & Marketing Brian Fargus highlighted how the company's claims management solutions are keeping plan costs in check. From 2013 through 2017, the… more »

02/11/18

For MedBen, Beating Trend Is All in the Details

In recent years, U.S. health care spending has slowed significantly compared to the double-digit cost spikes we saw a decade ago. But there’s still room for improvement, so MedBen uses multiple containment strategies to keep client claim costs under… more »
  09:27:00 pm, by MedBen5   , 214 words,  
Categories: Reporting, Cost savings, Third party administration

MedBen Reporting Highlights “Care Gap” Connection

Among the distinctive features of the MedBen reporting package is a series of reports that examine a group's "care gap." The idea behind a care gap measurement is straightforward: Individuals who get recommended exams and follow their doctor’s advice… more »

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