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Generic Drug Use Hits New High - MedBen Clients Beat Average

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 than this benchmark for the same time period.
Generic drug use is a significant factor in prescription plan cost because generic drugs regularly cost a fraction of the cost of brand name drugs. Greater use of generic drugs translates to lower plan costs.
The report charts a number of drug trends and marked another year of lower pharmacy reimbursements. In 2008, according to the report the average retail brand reimbursement was 16.1% off of AWP (Average Wholesale Price - a standard mark for brand drugs). MedBen clients experienced average discounts on retail brand drugs that were 10% better than this mark.
The report marked average retail generic reimbursements at 41.8% off of AWP while MedBen clients averaged generic discounts over 1.75 times that number.
MedBen has acheived these results through its unique prescription plan that delivers the entire discount on retail and generic drugs to clients.
You can download a copy of the report here.

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