Plan year is June 1st and year-to-date savings through November 30th have been; employer $408,000 and members $29,000.
With healthcare costs on the rise, particularly with prescription drugs and specialty medications, it was imperative we find a way for our client to save on projected future costs. Members are spending more money on prescriptions and sometimes forgoing them due to the high cost of the medication. Our self-funded client’s prescription drug costs were increasing, and we needed to get ahead of the curve to help them keep their costs down. One way to do this is a carve-out program for high-cost medications and specialty meds.
BKS Partners completed a PBM repricing analysis to determine projected savings, members impacted, and potential ROI. We educated the client on how the program works and the responsibility of the members when the program is triggered. Members are redirected to utilize this program for any prescription over $350.
• As we monitor the performance of the program, the savings is evident with a 7.2:1 ROI.
• Members have embraced the program knowing there are savings for them as well.
• Utilization is easily monitored through regular reporting.
• Prescriptions are zero cost to the member, encouraging them to work with the program and fill their prescriptions.