John Santilli, President of AMI’s Post

Why pay attention to wasteful drug spend? The short answer is savings. We’ve developed a wasteful drug reporting solution that enables plan sponsors to keep a watchful eye on their pharmacy benefit spend. Learn how MyRxConsultant can help mitigate your plan’s wasteful drug spending and enhance formulary management. Click here to learn more: https://buff.ly/3iEEsbv #humanresources #pbm #employeebenefits Milliman

Marsh McLennan Agency's Q4 2023 Rx Newsletter covers how Group Purchasing Organizations play a vital role in managing drug costs for major PBMs like CVS, Express Scripts, and OptumRx - but, are GPOs in the pharmacy landscape a good thing? Read more to learn more about their influence on the #healthcare industry, and contact our pharmacy practice to learn more about potential concerns that may affect your business.

As drug prices continue to rise, Pharmacy Benefit Managers (PBMs) have come under increased scrutiny with calls for reform growing to mitigate high costs. Legislative efforts are underway at both the state and federal level consistently referring to these common themes which lawmakers hope will be drivers of change: 1. Increased transparency with PBMs related to drug price and rebate information, benefit and formulary structure, and negotiations with manufacturers 2. A ban to spread pricing which occurs when PBMs reimburse pharmacies less than they receive from plans, retaining the difference as profit 3. Rebate passthroughs to ensure PBMs pass on their savings from rebates to plan sponsors. Currently, PBMs retain a portion of rebates, leading to concerns about incentives and uncertainties regarding the actual rebate amounts received by sponsors. Accompanying the targeted legislative efforts is the discussion related to vertical integration and lack of competition for PBMs. As the FTC continues to study the PBM industry, a recent AMA report (link in comments) concluded that for three key product shares only four PBMs control 68% of the market–and this is growing. The evolving landscape of the PBM industry and how it impacts patients will be more important than ever to monitor in the coming months. Stay tuned. #pharmacybenefitmanager #pharmacybenefitmanagers #pbm #pbms #biopharma

Thoughts on this? >> FTC report on PBMs >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #pharma #healthcare #pharmaceutical #biotech #productmarketing

Does your organization need guidance and negotiation strategies with your Specialty Pharmacy contracts? Archbow can help! Our experts detail four essential contracting best practices for achieving financial savings and long-term protection for manufacturers and SPs. Read the must-have guide by clicking the link below. #specialtypharmacy #contract #pharma #biotech #marketaccess #fmv

Marsh McLennan Agency's latest #article covers how Group Purchasing Organizations play a vital role in managing drug costs for major PBMs like CVS, Express Scripts, and OptumRx. Read more to learn more about their influence on the #healthcare industry. #employeebenefits #cfo #chro #pbm

Thoughts on this? >> FTC report on PBMs >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #healthcare #pharma #productmarketing #biotech #pharmaceutical

The FTC suing the big three PBMs is not a huge surprise. Profits built into drug costs throughout the supply chain between the manufacturers and pharmacies has long been known. Caremark, ESI, and Optum Rx control 80%+ of the pharmacy benefit manager market which makes the industry ripe for federal legislation or litigation. The increasing levels of consolidation in the industry have decreased innovation and dulled the potential for disruptive solutions. The biggest beneficiary of the lawsuit if successful will likely be smaller employers who lack the guidance or ability to own their own pharmacy contracts and retain rebates/negotiate lower drug pricing as it relates to pharmacy cost benchmarks. Whether there will be any teeth in a ruling if successful will be interesting to see - especially as we move into a transitional phase in federal administration. #healthandbenefits #pbm #employeebenefits

Managing specialty drug spend is a collaborative effort. Kenny Fritz shares how PBMs, brokers, and clients can work together to lower costs in this week’s Webinar Rewind. Get more pharmacy benefit guidance at https://lnkd.in/gB3FEPiw #pharmacybenefits

The discounted based PBM model isn't all what it's cracked up to be, is it?! If you were one of the employers that was sold on a "good idea" and misinformation, you very well could be stuck with a bad deal! Of the many reasons to evaluate a PBM based on a cost based model that's focused on actual drug spend. Let's talk today and see how we can evaluate your current programs with some of our best-in-class PBM partners! #PBMDrugSpend #StopTheHealthcareCostMadness https://lnkd.in/eg_634zi