April 14, 2021 • 1:30 PM - 4:30 PM ET
As the cost of drugs continues to rise, particularly specialty drugs which account for an estimated 40-50% of drug spend in 2020, employers and plan sponsors are considering a variety of pharmacy management resources and solutions to deliver meaningful costs savings and improved patient outcomes. This webinar series examines levers of control to manage costs, such as innovative contracting strategies, changes to plan design, effective clinical protocols, and the adoption of technology, personalized medicine, and other consumer-driven approaches to help employers improve their employees’ adherence while promoting transparency.
Webinar Agenda:
Opening Panel: Evaluate the Current Trends, Market Dynamics, and Employer Considerations to Optimize Drug Spend
The US drug market and complicated nature of relationships between all of the stakeholders involved in the dispensing and payment for bio/pharmaceutical products has created challenges and misalignments impacting everyone. This panel examines the current state of the market, market players, and considerations employers should take into account to ensure a pharmacy management strategy that optimizes drug spend.
- Discuss effective drug purchasing strategies that prioritize employee health and well-being
- Gain insight into efforts to strengthen transparency and avoid overspending
- Understand the importance of analyzing data from health plans and PBMs to make meaningful decisions
- Focus on prevention and chronic condition management program to manage medical and pharmacy claims
Moderator:
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Karen van Caulil, PhD President and Chief Executive Officer Florida Alliance for Healthcare Value View Bio |
Panelists:
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Dianne Howard, ARM Director of Risk and Benefits Management The School District of Palm Beach County View Bio |
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Donna Sullivan Chief Pharmacy Officer Washington State Healthcare Authority View Bio |
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Mark Weinstein President & Chief Executive Officer Independent Colleges and Universities Benefits Association (ICUBA) View Bio |
The Value-Based Approach to Optimize Pharmacy Benefits for Employers/Purchasers
The traditional pharmacy benefits model is unsustainable for employers and plan sponsors. They bear 80% of the costs yet have no control over the outcomes or services received. As health care costs continue to rise, employers must take charge and demand accountability and value from their health plans and PBMs. In this session, learn how employers can adopt a value-based approach to pharmacy benefits that delivers better financial results, lowers costs, and prioritizes employee/member health.
- Gain insight into a pay-for-performance model with aligned financial incentives to improve outcomes
- Implement strategies and interventions that address the clinical, financial, or behavioral impediments to improved health outcomes and decreased total cost of care
- Leverage population and risk analytics to tailor interventions and close gaps in care
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Karthik Ganesh Chief Executive Officer EmpiRx Health View Bio |
Specialty Rx Doesn't Have to Be Especially Costly: Rooting Out Problem Prescriptions to Control Your Specialty Spend
Specialty medications account for a fraction of prescriptions dispensed but make up nearly 50% of total pharmacy spend. Employers and payers are looking for ways to understand their costs and identify strategies to avoid unnecessary spend within an overwhelmingly complex system. This session will explore trends in specialty pharmacy and conduct an in-depth walkthrough of an increasing phenomena: how certain drugs straddle the “specialty” fence and what employers and health plans should consider.
- Define specialty drugs by standard industry metrics
- Understand tactics employers have tried to implement to control rising specialty costs
- Walk through side-by-side drug comparisons to gain insight into the nuances that make identifying “true” specialty drugs difficult
- Explore non-traditional, yet attainable, savings opportunities for specialty medications
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Jeff Green, PharmD Vice President, Pharmacy Rx Savings Solutions View Bio |
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Bryan Schuessler, PharmD Director, Specialty Pharmacy Rx Savings Solutions View Bio |