Employers Testing New Ways to Rein in Specialty Drug Costs

To rein in rising specialty drug costs, employers most often use prior authorization, step therapy and cost-sharing strategies, but more are also experimenting with formulary exclusions and value-based pricing models, a new report shows. Business Insurance most recently authored the article, "Employers Testing New Ways to Rein in Specialty Drug Costs" where this topic was explored in depth. Be sure to check out this article in order to be well-informed on these rising drug costs.

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

What's Next In Wired Healthcare?

When was the last time you sent a fax? How long has it been since you called an airline to book travel? Today's technology has connected us in ways we couldn't have dreamed of 25 years ago. The healthcare industry has made great strides in connectivity as well. 

Be sure to read the Express Scripts article, "What's Next in Wired Healthcare?" to learn more about how the healthcare industry has kept up with growing technology. 

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

When was the last time you sent a fax? How long has it been since you called an airline to book travel? Today’s technology has connected us in ways we couldn’t have dreamed of 25 years ago. The healthcare industry has made great strides in connectivity as well. - See more at: http://lab.express-scripts.com/lab/insights/industry%20updates/whats%20next%20in%20wired%20healthcare?ec_as=94971ABF3FF14638908832BB77A00FF5#sthash.5UN40MMk.dpuf

When was the last time you sent a fax? How long has it been since you called an airline to book travel? Today’s technology has connected us in ways we couldn’t have dreamed of 25 years ago. The healthcare industry has made great strides in connectivity as well. - See more at: http://lab.express-scripts.com/lab/insights/industry%20updates/whats%20next%20in%20wired%20healthcare?ec_as=94971ABF3FF14638908832BB77A00FF5#sthash.5UN40MMk.dpuf

When was the last time you sent a fax? How long has it been since you called an airline to book travel? Today’s technology has connected us in ways we couldn’t have dreamed of 25 years ago. The healthcare industry has made great strides in connectivity as well. - See more at: http://lab.express-scripts.com/lab/insights/industry%20updates/whats%20next%20in%20wired%20healthcare?ec_as=94971ABF3FF14638908832BB77A00FF5#sthash.5UN40MMk.dpuf

When was the last time you sent a fax? How long has it been since you called an airline to book travel? Today’s technology has connected us in ways we couldn’t have dreamed of 25 years ago. The healthcare industry has made great strides in connectivity as well. - See more at: http://lab.express-scripts.com/lab/insights/industry%20updates/whats%20next%20in%20wired%20healthcare?ec_as=94971ABF3FF14638908832BB77A00FF5#sthash.5UN40MMk.dpuf

5 Trends Driving Change In Health Care

Reid Rasmussen recently authored the article, "5 Trends Driving Change In Health Care" for Benefits Pro where he explored where the health care industry is going. Be sure to check out his article to find out what he believes is happening to the industry and ask yourself the following questions:

• Where does this leave us as an industry?
• If these are the trends, then how should we respond? 
• What solutions should carriers develop?
• What strategies can be used to best round out future plan designs?

 

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

U.S. Drug Spending Climbs

An IMS Health report says total spending on prescription drugs in the U.S. rose 12.2% to nearly $425 billion in 2015. They say the rise is part of a continuing steep climb fueled by the introduction in recent years of expensive drugs for cancer and infections, as well as price hikes for older drugs. The Pharmaceutical Research and Manufacturers of America says the report confirms that drug costs are moderating due to a competitive marketplace for medicines where large, powerful purchasers negotiate aggressively and generic utilization rates are nearly 90%.

 

To find out more on this topic, please read the article titled, "U.S. Drug Spending Climbs" courtesy of The Wall Street Journal.

Related News:
U.S. prescription drug spending to hit $400 billion a year by 2020: IMS – Reuters

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

The Persistent Value of Generics

The use of brand-name medications when clinically-equivalent generics are available results in billions of dollars in pharmacy waste each year in the U.S.

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. Any yet, more than half of the prescription drugs available today have a generic option for consumers. A generic drug is chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval. 

 

 

To read more on this topic, please check out the Express Scripts article titled, "The Persistent Value of Generics".

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpufinfiosnsoifn

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The average price of brand name drugs increased 16.2% in 2015 and 98.2% since 2011. And yet, more than half of the prescription drugs available today have a generic option for consumers.
A generic drug is a chemically equivalent, lower-cost version of a brand-name drug. Each generic medication dispensed in the U.S. must meet the same strict standards of the U.S. Food and Drug Administration (FDA) for quality and therapeutic efficacy. Additionally, generics must meet rigorous testing standards from the FDA to ensure bioequivalence to brand-name medications prior to approval.
- See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The use of brand-name medications when clinically-equivalent generics are available results in billions of dollars in pharmacy waste each year in the U.S. - See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The use of brand-name medications when clinically-equivalent generics are available results in billions of dollars in pharmacy waste each year in the U.S. - See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The use of brand-name medications when clinically-equivalent generics are available results in billions of dollars in pharmacy waste each year in the U.S. - See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The use of brand-name medications when clinically-equivalent generics are available results in billions of dollars in pharmacy waste each year in the U.S. - See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

The use of brand-name medications when clinically-equivalent generics are available results in billions of dollars in pharmacy waste each year in the U.S. - See more at: http://lab.express-scripts.com/lab/insights/drug%20options/the%20persistent%20value%20of%20generics?ec_as=5DA797094C4948BA955D5BC8A5FBAC4F#sthash.dZEmTdmA.dpuf

How Bad America's Drug Problem Is

President Obama addressed the National Rx Drug Abuse & Heroin summit in Atlanta Tuesday, calling further attention to the drug epidemic in America just two weeks after the Centers for Disease Control issued new recommendations on limited the use of narcotic painkillers. Data clearly shows that opioid and heroin addiction have become an epidemic in the past 15 years.

But prescription painkillers and heroin are not the only drugs whose use has exploded in the past 15 years. Using the same CDC database that tracks the growth in fatal opioid and heroin overdoses, TIME collected data on cocaine, benzodiazepines (sedatives like Valium and Xanax) and stimulants like crystal meth. All three categories have risen dramatically since the year 2000. 

Become more informed on this dangerous epidemic by reading the Time article titled, "5 Charts That Show How Bad America's Drug Problem Is".

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

U.S. FDA Issues Draft Guidance For Abuse-Deterrent Opiod Generics

The U.S. Food and Drug Administration issued draft guidance on Thursday for abuse-deterrent opioid generics, including a recommendation that studies be conducted to demonstrate that generic opioids are no less abuse-deterrent than branded drugs.

The FDA said it was encouraging industry efforts to develop pain medicines that are more difficult to abuse. The regulator issued guidelines to support increased development of generic versions of approved opioids with abuse-deterrent formulations. (1.usa.gov/1LJv02w) To read more on this ongoing story, check out the article titled, "U.S. FDA Issues Draft Guidance For Abuse-Deterrent Opiod Generics" courtesy of Reuters.

 

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/

The Opioid Crisis: Changing The Culture of Prescribing

Opioid-related deaths have reached an all-time high in the United States. More than 47,000 people died in 2014, and the numbers are rising. The Centers for Disease Control and Prevention this month released prescribing guidelines to help primary care physicians safely treat chronic pain while reducing opioid dependency and abuse. Given that the guidelines are not binding, how will the CDC and the Department of Health and Human Services make sure they make a difference? What can payers and providers do to encourage a countrywide culture shift? Read about potential solutions in the Politico article titled, "The Opioid Crisis: Changing The Culture of Prescribing". 

HORIZON Health Ventures is a healthcare cost management solutions company used by insurance brokers, employee benefit consultants, third-party administrators, insurance companies, and associations, to bring proven thought leadership and strategy to the management of their clients healthcare costs. To learn more about HHV and their services, please visit http://horizonhealthventures.com/