Free to International Foundation and ISCEBS Members
RECORDED – October 26, 2017
3:00-4:30 p.m. ET
Currently, specialty medications represent 35 to 40 percent or more of pharmacy-related costs for employers, despite treating just one to two percent of eligible participants. Within the next couple of years, specialty drugs will comprise 50 percent of total drug spend, with only two-to-three percent of the population driving this trend.
The industry has traditionally focused on a volume strategy- the larger the PBM or the more members a plan has - the greater their leverage is to negotiate lower drug prices. But now, with specialty drugs poised to upend drug spending, more plan sponsors are looking toward value-based solutions - clinical programs and high-touch care models, for example - to help control spending and improve quality of care. Additionally, most pharmacy trend numbers are missing prescription drugs dispensed through the medical benefit.
As specialty drug spend continues to rise, one-size-fits-all pharmacy benefits management won't help plan sponsors control trend or better understand how to provide enhanced care at lower costs. Experts in the area of Specialty Pharmacy and Clinical Programs will discuss three key things plan sponsors can do to effectively manage this growing area of pharmacy spend.