What is International Sourcing?
With pharmacy expenditure topping $358 billion in 2020, employers are desperately searching for ways to efficiently reduce their Rx spend. International sourcing is a method that has been used on a personal level for many years. However, many U.S. businesses are starting to employ this …
Do Patient Assistance Programs Work?
U.S. businesses continue to spend a monumental amount of capital on specialty drugs for their workforce. In fact, specialty drugs were estimated to represent about 50 percent of total Rx spend in 2020, with inflation of about 23 percent from the year before. Despite these …
How Rebates Are Driving Up Drug Prices
Similar to manufacturers of consumer product goods, many drug manufacturers offer rebates to lower the overall cost of the medication they produce. Instead of offering these rebates to you directly, however, pharmacy benefit managers are often the only ones on the receiving end of these …
Video: The Real Price Of Your Prescriptions
This video from Altiqe Consulting breaks down Rx spend in a way that makes sense. But what doesn't make sense is where this money is really going. …
How PBMs and Spread Pricing Affect Overall Rx Spend
According to Statista, prescription drug expenditure in the United States totaled $358 billion in 2020, up 50% since 2011. Pharmacy Benefit Managers (PBM) work as middlemen for many stakeholders as funds exchange hands within the drug supply chain. However, their pricing methods lack complete transparency …
Expanding Access to Care with Onsite Clinics
Employers of all sizes are considering onsite and near-site healthcare as a method to expand access to care, while providing their workforce with the same great quality of care they’re used to. According to the National Business Group on Health, it is estimated that nearly …
Expanding Access to Care is Vital in 2021 and Beyond
When looking to exercise health benefits provided by their employers, employees will often ask about the ways in which they’ll be able to access this care. The COVID-19 pandemic has further emphasized the need for this process to be simple and efficient, as it ultimately …
Expanding Access With Direct Primary Care
Direct Primary Care, also known as concierge healthcare, has introduced a fresh perspective to the way employers are accustomed to providing care. The model works by directly connecting the patient to the healthcare provider. This effectively cuts out the increasing premiums, claims and overall headaches …
A Get-Started Guide to Self-Funding
The tenets of a fully-insured health plan should be very familiar. You and your employees pay monthly premiums to a carrier for a menu of covered benefits. The carrier pays for healthcare out of those premiums, but employees also pay — sometimes so much that …
The Cost-Saving Power of Health Care Data
It’s a common-sense, widely held business principle: What is not measured cannot be managed or improved. Yet, while your company likely captures and analyzes data about everything from your website’s performance to travel expenditures, you’re probably not doing the same for one of your largest …
