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MedBen Rx Advocate Closes the Price Gap

04/08/18

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

MedBen Rx Advocate Closes the Price Gap

pills

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, the huge gaps between the list price and the actual price are notorious.”

MedBen clients are already well familiar with pharmacy benefit transparency, by a pass-through pricing approach that delivers 100% of paid rebates back to the plan, and reporting that shows exactly how their prescription drug dollars are being spent. And with the recent introduction of MedBen Rx Advocate, we have taken price transparency to another level.

MedBen Rx Advocate lowers the pharmaceutical price gap considerably. Instead of taking a “list-less” approach (average wholesale price (AWP) minus a discount), MedBen takes the acquisition cost, and adds a reasonable dispensing fee that fairly compensates the pharmacy's services. This "cost plus" method eliminates the potential for margin manipulation that is common with the traditional AWP “list-less” approach.

By using a drug's acquisition cost as a baseline, you reduce your prescription costs in turn... and we work with your team to ensure that you get maximum value from your pharmacy plan, through innovative plan designs. If you're interested in hearing more about MedBen Rx Advocate and the "cost plus" difference, contact Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

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