There are 9 item(s) tagged with the keyword "specialty pharmacy".
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In recent years, major breakthrough cancer therapies have entered onto the oncology stage, namely actors in immunotherapy that have shown extraordinary promise. These new agents differ from conventional treatments in that they selectively target aspects of the immune system to optimize the innate response to invading cancer cells.
As a follow up to our release of “Policy Recommendations to Promote Sustainable, Affordable Pricing for Specialty Pharmaceuticals,” in which we focused on policy recommendations we think the government should examine, this blog post focuses on policies we think are ill-advised. These policies may include specialty drug price caps, out-of-pocket payment caps, limitations on utilization management tools and mandated disclosure of proprietary information.
As we do every year, the National Business Group on Health held its Employers' Summit on Health Care Costs and Solutions in January. The summit provides a forum for close to 100 benefits leaders to come together early in the health care planning cycle to reflect on last year’s initiatives, discuss strategy for 2017 and begin to plan for 2018 and beyond. It’s an opportunity to share ideas, to network and learn from peers, and to leverage best practices that employers can implement back in the office.
The Business Group is pleased to roll out a Public Policy Issue Brief that offers public policy recommendations to create a more favorable environment for financial sustainability and affordability of specialty medications. At the outset, understanding the challenge is important. With specialty drug expenditures trending at an all-time high and all indicators pointing to sustained increases over time, employers are strategizing on how best to manage growing pharmacy expenditures for this subset of drugs.
Each January, more than 100 human resources and benefits professionals come together for our annual Employers’ Summit on Health Care Costs and Solutions. The best practices and cutting-edge ideas brought forward at this event continue to show that innovation in health improvement and health care management in this country is driven largely by employers.
Are you struggling with managing specialty pharmacy in plan design? Our new Specialty Pharmacy Management Checklist provides detailed tips for staying ahead of the curve – from utilization management to reporting and accountability to employee education.
Here are some tips from the checklist:
Controlling health benefits costs remains a high priority for large employers. While increases are expected to hold steady at 6% in 2017, costs are still running at more than twice the rate of inflation and general wage increases, thereby threatening affordability.
For the first time in 2010, the number of specialty drugs approved by the FDA surpassed that of traditional drugs, kick-starting a trend that we're continuing to see year after year. While only a small fraction (approx. 4%) of the patient population uses specialty medications, these costly drugs now account for 25% of total US drug spending and is the fastest growing cost in most employers' health benefits.
Compounding pharmacies lost a big stream of revenue in the last few years when large employers, working closely with their PBMs, implemented caps and exclusions on compounded medications to better manage costs. While these control measures addressed a significant portion of unnecessary compounding, there are new creative compounding billing practices that are slipping through the cracks.
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