As prescription drug costs continue to rise, employers are grappling with managing their pharmacy benefits programs, aiming to achieve the lowest cost while ensuring member coverage. In 2024, U.S. prescription drug spend reached $487 billion, driven in part by rising list prices and increased utilization of high-cost therapies like GLP-1s and specialty drugs.
This has led to a recent focus on applying a “lowest net cost” approach to pharmacy benefit plans. Lowest net cost pricing in pharmacy benefits generally refers to a contracting approach that emphasizes the final cost of a drug after discounts, rebates, and fees have been applied. The goal is to reduce the end cost that the plan pays while also centering around plan transparency and aligned incentives.
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What’s inside the Achieving Lowest Net Cost in Pharmacy Benefits eBook?
Truveris’ Achieving Lowest Net Cost in Pharmacy Benefits eBook is designed to help employers and brokers understand how various factors, programs, and strategies can be used to establish a lowest net cost approach to managing a pharmacy plan’s financials. In this eBook, we cover:
- Procurement Strategies
- Financial Programs and Methods
- Formulary Management and Projected Utilization
- Additional Clinical Programs
- Disruption and Plan Change Management
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