Prescription drug prices -- including generics -- continue to skyrocket. In fact, many essential generic drugs have seen increases ranging from 600 to 1,000 percent during the last five years. Therefore, pharmacy benefit plan costs are a prime area for cost reduction as they typically represent about 18 percent of employer-sponsored health benefit plan costs.
But what role does a Prescription Benefits Manager (PBM) play and how can your finance team determine whether your organization is getting the best deal? Isn't it enough for your finance team to know the average wholesale prices (AWPs) of prescription drugs to be able to evaluate your prescription benefit plan?
Expanding your knowledge of prescription benefits is critical not only to achieving optimal drug pricing but also for enabling your finance team to identify cost savings for your organization. Join health care industry expert Dr. Rick Perryman as he clears up several misconceptions about prescription benefits management and recommends approaches that can enable your organization to reduce drug costs by between five and 15 percent.
Attend this Webcast to discover:
- Why AWP is not a relevant benchmark for negotiating a good prescription benefits program;
- What spread pricing is and how you can mitigate its impact;
- How to gain transparency and negotiation leverage with prescription pricing; and
- Where to find significant costs savings for your organization and employees.