Control over increasing pharmacy costs
The Prescription Drug Dilemma
Furthermore:
-
576,000 Americans spent more than the median household income on prescription medications in 2014
-
This population of patients grew an astounding 63% since 2013
-
This population of patients grew an astounding 63% since 2013
-
This population of patients grew an astounding 63% since 2013
-
Among employees with over $50,000 in healthcare spend, 9 out of 10 are using specialty medications
-
Of those spending over $100,000 in healthcare, 60% are taking 10 or more medications and 72% are getting prescriptions from at least four different prescribers
The Challenge of Specialty Pharmacy and Health Care Costs
Taming the beast. Effective Health Care Management
Annual cost increases of specialty drugs are driving overall increases in prescription benefits spend.
Specialty Pharmacy: A Strong and Growing Cost Driver
Current Healthcare Landscape & Strategies to Stay Ahead of Growing Trends
For the entire US healthcare market, specialty medication spending has nearly doubled since 2011, reaching $160 billion. While the prescription drug industry develops biotech breakthroughs for chronic disease conditions like Hepatitis C and Multiple Sclerosis, they can come with a hefty price tag of as much as $100,000 or more per treatment.
Manufacturers of non-specialty brand name drugs without generic alternatives are increasing their prices prior to losing their patent protection. At the same time, the pricing for generic drugs continues to climb.
Specialty pharmacy drugs can be life-changing for your employees who need them. But the cost is on pace to make them unattainable for many employers in the near future. You have options, however, to get ahead of the curve and continue to offer these ground-breaking therapies in a cost effective way.
In just 8–12 weeks, Mercer’s Pharmacy Practice can identify savings of up to 10% of specialty spend.