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MedBen Rx Spending Continues to Defy National Trend

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

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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 in 2015. Much of that increase can be attributed to expensive new drugs for cancer and infections, as well as price hikes for older drugs, according to research by IMS Health.

In contrast, MedBen pharmacy plans experienced only a 4.1% trend last year, based on amount paid per member per month. And while clients faced many of the challenges associated with higher prescription costs and the increased use of specialty drugs, they were able to keep overall spending in check through the smart use of generics and alternative medications.

Of course, a large part of the savings come from simply returning to customers what is rightfully theirs. Many third party administrators withhold part of a pharmacy rebate, whereas MedBen gives 100% of the rebate back to the client and passes through all of the generic discounts.

U.S. pharmacy spending continues to outpace all other types of medical care, but MedBen is committed to keeping client Rx costs well under national trends. Learn more about how we do it by contacting Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

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