by Team PCM | Aug 18, 2021 | Blog Post, Medical Benefits, Pharmacy Benefits
For self-insured plan sponsors, specialty drugs represent 33-50% of total pharmacy spend but only account for 1% of total prescription claims. These medications usually require special handling, administration, inventory management, patient monitoring, and support and...
by Team PCM | Jun 14, 2021 | Blog Post, Pharmacy Benefits
Formulary management is becoming increasingly important for plan sponsors. As drug prices, especially specialty costs, continue to rise, improving participant access to affordable medications is vital to containing overall medical spend and prioritizing participant...
by Team PCM | May 12, 2021 | Blog Post, Pharmacy Benefits
It has been 15 years since the widespread adoption of biosimilar medications in the European Union. Ten years later, in March 2015, the first biosimilar was approved by the FDA for use in the United States. Unlike the EU, biosimilars have struggled to take hold in...
by Team PCM | Apr 15, 2021 | Blog Post, Data Analytics, Pharmacy Benefits
Medication adherence is a longstanding issue within the complex American healthcare system. Made worse by the global pandemic, nonadherence to prescribed medications is the result of many factors with far-reaching impacts on patients and health plans. Two obstacles...
by Team PCM | Mar 17, 2021 | Blog Post, Contract Management, Data Analytics
60% of employers report that the cost of their current pharmacy plan is unsustainable. Without requesting bids from vendors or restructuring benefit strategies, there seems to be little that employers can do to contain costs. However, buried in the seemingly endless...
by Team PCM | Feb 17, 2021 | Blog Post, Pharmacy Benefits
Clinically driven models are creating a buzz across healthcare. A clinically-driven model moves from a volume-based revenue system to a strategy focused on the amount saved by improving health in the pharmacy space. This strategy includes considering medication...
