How do Pharmacy Trends Impact Your Business?


| 2 min read

How Prescription Drug Trends Impact Businesses
Health care costs are rising and many business decision-makers are seeing the impact first-hand in their company’s bottom line. In fact, data from a 2015 Society for Human Resource Management study found 77 percent of companies saw an increase in their health care costs, with 24 percent of these companies experiencing costs ballooning 16 percent or more. Pharmacy benefits has been identified as a contributing factor for the rise in cost of medical benefits offered by businesses and represents between 10 and 25 percent of total medical costs in the U.S. Our May 24, 2018, Master Class webinar focuses on the issue of rising pharmacy costs for businesses. Titled, “Pharmacy Trends: A Prescription for Saving Lives and Managing Costs,” the class equips viewers with information about pharmacy trends and explains how to manage rising costs for businesses. During this interactive webinar, Atheer Kaddis, PharmD and Vice President, Pharmacy Services, and Glen Perry, Senior Pharmacy Director, share insights on topics including overall pharmacy and specialty drug pricing trends, how the market is merging, and the value of pharmacy and medical integration to help employees obtain high-quality treatment at affordable costs. This course is certified by the Human Resources Certification Institute® for continuing education credit and has been approved for 1 HR recertification credit hour through HR Certification Institute®. Nearly 60 percent of U.S. adults take prescribed medications, with 12 percent of adults using five or more prescription drugs in the past 30 days. In addition, net spending on specialty drugs has nearly doubled, from 25 percent in 2008 to 47 percent in 2017, and it is projected these medications will make up a substantial portion of medication spending over coming years. These real-world findings drive home the importance of business decision makers having the facts they need to make smart, thoughtful decisions about the health of their employees. Visit these MI Blues Perspectives blogs for more background and information on Pharmacy trends:
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