Prescription drugs have long played an important part in keeping members healthy. Unfortunately, prescription prices have escalated to become the single highest driver of overall medical expense, mainly due to the high cost of specialty drugs. Concerned with escalating pharmacy costs, a state insurance program for public employees decided to take action.
The agency engaged HealthSmartRx Solutions (HSRx) to develop a plan that would identify pain points and opportunities that would help control the overall drug spend of their members.
Last year, the HSRx High Cost Drug Management program delivered savings of $17.7 million and a 14.5:1 ROI. Considering a value of $200 per employee, per year in savings, the ROI and financial impact could be staggering.
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