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Category: "Cost savings"

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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 »

05/16/16

  08:21:00 pm, by MedBen5   , 316 words,  
Categories: Cost savings, MedBen Analytics, Bundled Payments

Bundled Payments Mean Higher Quality, Better Cost, Says Fraker

Bundled payments and other alternative payment methods already popular for Medicare claims will soon be used for commercial group health plans to save money while promoting quality care, says MedBen Vice President of Compliance Caroline Fraker in a… more »

05/10/16

  06:18:00 pm, by MedBen5   , 198 words,  
Categories: Prescription, Cost savings, Research

Doc Talk, MedBen Access Help Cut Unneeded Spending on Brand-name Drugs

A new pharmaceutical study reveals a money-saving reason to promote the importance of an open doctor-patient communication to your health plan members, and encourage the use of the drug comparison feature on MedBen Access. Accrding to Stat, the study… more »

04/28/16

  06:54:00 pm, by MedBen5   , 304 words,  
Categories: Prescription, Online Services, Cost savings

MedBen Access Helps Rx Customers Be Savvy Shoppers

A Los Angeles Times article highlights the extreme disparity in prescription drug costs between pharmacies... disparities readily apparent to consumers paying cash, but typically hidden from insured patients. It's a reality that demonstrates the… more »

04/21/16

  11:14:00 pm, by MedBen5   , 256 words,  
Categories: News, Prescription, Health Plan Management, Health Care Reform, Cost savings, MedBen University

MedBen University Event Focuses on Cost Control Strategies

On April 21, MedBen concluded a multi-day Indiana trip with a MedBen University (MBU) event in Lawrenceburg. Entitled "Taking Charge of Your Health Care Costs" and cosponsored by Pinnacle Advisory Group, this free seminar touched on a variety of… more »

04/15/16

  10:07:00 pm, by MedBen5   , 216 words,  
Categories: Prescription, Health Plan Management, Cancer, Cost savings

MedBen Rx Spending Continues to Defy National Trend

U.S. drug spending witnessed another sharp jump in 2015... but MedBen drug spending came in at just one-third of the national trend. The Wall Street Journal reports that total spending on prescription drugs in the U.S. rose 12.2% to nearly $425 billion… more »

04/14/16

  10:53:00 pm, by MedBen5   , 202 words,  
Categories: News, Health Plan Management, Hospitals, Cost savings, Research

Metro Hospital Preference Runs Counter to Study's Cost-Quality Connection

A new study suggests that most Americans think that the paying more for medical care doesn't ensure higher quality... but the tendency of many patients to gravitate toward pricier metropolitan hospitals would suggest otherwise. That's why MedBen works… more »

04/07/16

  10:35:00 pm, by MedBen5   , 344 words,  
Categories: Announcements, Prescription, Incentives, Cost savings, MedBen University

MedBen Municipality Clients Experience Low 5-Year Cost Trend

MedBen government clients have experienced a cost trend of just 9.3% from 2011 to 2015, said Brian Fargus, MedBen Vice President of Sales & Marketing, at the company's 10th Annual Municipality Roundtable on Thursday, April 7. That breaks down to… more »

04/05/16

  11:29:00 pm, by MedBen5   , 238 words,  
Categories: News, Prescription, Cost savings

Major Price Increases for Leading U.S. Drugs Since 2011

Prices for four of the nation's top 10 drugs more than doubled from 2011 to 2014, according to a new Reuters analysis of proprietary data. The six others went up more than 50%. The highest price jumps among the top 10 drugs include the arthritis drugs… more »

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%

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

03/23/16

  03:13:00 pm, by MedBen5   , 116 words,  
Categories: Wellness, Health Plan Management, Incentives, Cost savings

Employee Wellness Incentives Help Lower Costs

Participation in a wellness program can help a plan and its members in multiple ways. So when a MedBen client expressed concern about the number of employees taking part in it in their program, it was decided to take a different approach. We introduced… more »

03/22/16

  05:53:00 pm, by MedBen5   , 131 words,  
Categories: News, Prescription, Cost savings

MedBen Rx Once Again Beats National Spending Trends

U.S. spending on prescription drugs rose 5.2% in 2015, according to Express Scripts, the nation's largest pharmacy benefit manager (PBM). But as is the case year after year, MedBen has bucked the national numbers, with an average trend of just 2.5%. As… more »

03/10/16

  11:01:00 pm, by MedBen5   , 205 words,  
Categories: News, Health Plan Management, Cost savings

Spousal Coverage Surcharges Gaining Steam with Employers

A money-saving strategy that MedBen has encouraged for years appears to be catching on in a big way. A new survey shows that the number of employers that discourage spousal coverage will likely more than double in the next two years. Business Insurance… more »

02/24/16

  11:17:00 pm, by MedBen5   , 189 words,  
Categories: News, Health Plan Management, Hospitals, Cost savings, Heart, Research

Growing Focus on Outpatient Care Saving Health Plans, Consumers Money

A new series of studies shows that employer health plans can save thousands of dollars by encouraging the use of outpatient facilities for certain medical treatments. Forbes reports. The studies examined four common medical procedures – hysterectomy,… more »

02/22/16

  11:39:00 pm, by MedBen5   , 323 words,  
Categories: News, Health Plan Management, Hospitals, Cost savings, Heart, Third party administration

More Hospital Settlements as Justice Department Ends ICD Investigation

The U.S. Justice Department has made its final round of settlements with hospitals suspected of excessive use of implantable cardiac devices (ICDs) following a five-year study. Meanwhile, MedBen has been protecting clients from this expensive practice… more »

02/15/16

  10:32:00 pm, by MedBen5   , 212 words,  
Categories: News, Prescription, Health Plan Management, Cost savings, Third party administration

MedBen Tops Central Ohio TPA Employee Survey

A new Columbus Business First survey reveals that MedBen is Central Ohio's leading third-party administrator, as ranked by local TPA employees. With 147 TPA employees residing in Licking, Franklin and surrounding counties, MedBen employs over 100 more… more »

02/11/16

  10:14:00 pm, by MedBen5   , 259 words,  
Categories: News, Reporting, Hospitals, Cost savings, MedBen Analytics, Bundled Payments

As Providers Shift to Value-based Payments, MedBen Analytics Offers Actionable Insights

The U.S. Department of Health and Human Services is taking bold measures to move Medicare payments from the traditional model to alternatives based on the value of the services given. MedBen Analytics is currently working with providers nationwide to… more »

02/04/16

  10:41:00 pm, by MedBen5   , 257 words,  
Categories: News, Prescription, Cost savings

Drug Price Hikes Another Reason to Have a Smart Rx Strategy

High brand-name drug prices are a frequent topic of discussion, but in recent months, a different wrinkle on pharmacy pricing has joined the conversation: huge increases in individual drug costs. And its another reason that MedBen makes controlling drug… more »

01/27/16

  10:30:00 pm, by MedBen5   , 529 words,  
Categories: News, Reporting, Hospitals, Cost savings, MedBen Analytics, Bundled Payments

Data Transparency Leads to Success in Bundled Payments, Harden Says at Conference

"Data transparency will help drive success in the new world of value-based and bundled payments." That's the message MedBen President and COO Kurt Harden shared with hospital, health system, and provider group representatives at the 2nd Annual Bundled… more »

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