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Related Experiment Videos

Managing pharmacy benefits cost-effectively for an aging workforce.

Wayne Miller, Charles Bertucio

    Employee Benefits Journal
    |September 11, 2002
    PubMed
    Summary

    Baby boomers require cost-effective pharmacy benefits due to increasing prescription costs. Employers should partner with pharmacy benefits management (PBM) companies for disciplined strategies and patient outcome improvements.

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    Area of Science:

    • Healthcare Management
    • Pharmaceutical Policy
    • Gerontology

    Background:

    • The aging population, particularly baby boomers, presents unique challenges for healthcare systems.
    • Increasing prescription drug costs impact all age groups, necessitating strategic management.
    • Employers and plan sponsors face pressure to provide affordable pharmacy benefits.

    Purpose of the Study:

    • To outline strategies for employers and plan sponsors to manage rising pharmacy costs.
    • To emphasize the role of pharmacy benefits management (PBM) in cost containment and patient outcomes.
    • To highlight the importance of education in implementing effective pharmacy management.

    Main Methods:

    • Analysis of healthcare cost trends and demographic shifts.
    • Evaluation of pharmacy benefits management (PBM) strategies for cost-effectiveness.
    • Case study approach on phased implementation of disciplined pharmacy management.

    Main Results:

    • Pharmacy benefits management (PBM) companies can offer cost-effective solutions.
    • A disciplined, phased approach improves patient outcomes and manages costs.
    • Education for all stakeholders is crucial for successful strategy implementation.

    Conclusions:

    • Employers and plan sponsors must adopt proactive pharmacy benefit strategies.
    • Partnering with experienced pharmacy benefits management (PBM) companies is essential.
    • Continuous education and a focus on patient outcomes are key to navigating rising drug costs.

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