In this episode of Expect an Expert, we’ll be discussing specialty pharmacy strategy. We’ve invited our Directory of Pharmacy Solutions, Dr. Chris Antypas, to speak about specialty medications and their impact on work, cost, and pharmacy benefits for employers.
00:49 Dr. Antypas’s unique background and experience
01:51 Could you tell us more about specialty medications?
04:05 If you could speak more to waste, especially with the growing cost of specialty medications?
07:05 (follow-up) How does a specialty pharmacy strategy realign partners to the best interests of the business served?
09:08 Bottom line: A pharmacy spend is an investment in the health of your population.
Without a clear and strong specialty pharmacy strategy – your company is at great risk of facing unaffordable health care costs.
Specialty Medications are the fastest growing segment of the healthcare sector, and these medications now account for more than 50% of all pharmacy costs. This is an astounding number, especially when you consider that, typically, less than 2% of your population is responsible for this spend.
Our Director of Pharmacy Solutions and team of advisors bring a comprehensive strategy and set of solutions to manage your growing pharmacy costs.
The pharmacy supply chain is riddled with conflicts of interest, which can lead to exorbitant waste in your healthcare spend. You may not realize that this waste can be driven by your PBM and even the pharmacies dispensing the medications to your members. If these vendors generate more revenue when you spend more on pharmacy, chances are that they are working against your interests.
Your pharmacy spend is an investment in the health of your population, as the medications purchased are used to manage acute and chronic conditions. Your pharmacy benefit should be designed to ensure a fair price on the product, and to provide you with a demonstration of a real return on this massive investment. Program design, transparency, and data analytics are essential to achieve an effective pharmacy benefit for you and your members.
Is your current advisor telling you this? If they aren’t Henderson Brothers – chances are they’re not.
If you’d like to schedule a conversation with Dr. Chris Antypas, our Director of Pharmacy Solutions, please contact Sean Ganoe, Vice President of Business Development. Sean many be reached at (412) 754-3215 or [email protected]
Please note that the information contained in this posting is designed to provide general awareness in regard to the subject matter covered. It is not provided as legal, medical, or tax advice, nor is it intended to address all concerns in your workplace or for public health. No representation is made as to the sufficiency for your specific company’s needs. This post should be reviewed by your legal counsel or tax consultant before use.