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Working Together, MedBen and Employers Consistently Beat Rx Trends

07/30/17

  09:26:00 pm, by MedBen5   , 231 words,  
Categories: Prescription, Cost savings, Research

Working Together, MedBen and Employers Consistently Beat Rx Trends

pharmacy

Keeping prescription drug plan costs in check is one of the greatest challenges for self-funded employers nowadays... but year after year, MedBen is helping clients beat pharmacy cost trends.

From 2014 to 2016, MedBen clients experienced average pharmacy cost trends of just 3.5% per year. In contrast, national trends for employer pharmacy plans averaged 8.7%.

A new drug pricing forecast (which predicts a 7.6% national drug cost increase in 2018) attributes these trends to spikes in specialty drug use and rising pharmaceutical costs. So even with these harsh realities, how are MedBen clients seeing better results?

Part of the answer lies in the fact that we believe your money belongs to you. That's why, rather than holding back a portion of pharmacy rebates and discounts, MedBen returns 100% of them to the rightful owner -- the client.

The trend difference also lies in helping our clients promote preventive care. Many medications that help to prevent or control chronic conditions, such as simvastatin for high cholesterol and lisinopril for hypertension, are available as inexpensive generics. Conversely, medications to control diseases that weren't detected in their earlier stages can cost an Rx plan hundreds or even thousands of dollars a month.

By controlling prescription drug spending, employers can have a meaningful impact on overall health coverage costs. To learn more about how MedBen works with clients to beat pharmacy trend, contact Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.

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