Reducing Costs for Plans and Members

Effective cost control strategies are needed now, more than ever.

Featured Presenter: Jon Roberts
Executive Vice President and Chief Operating Officer

While unmanaged drug spend grew by double digits for the last several years, aggressive management strategies helped keep trend to 3.2 percent for clients in 2016. Formulary management, including generics and low cost alternatives, continue to be a key factor in driving down trend, at a time when inflation in branded medication cost contributed about 80 percent to trend.

As discussed during the 2017 Forum, Value Formulary continued to deliver results for clients by increasing generic dispensing rater to more than 88 percent. Innovative strategies, like point of sale rebates helped keep costs down for members, especially those on high deductible plans.

View more 2017 Forum highlights here.

Considerations for your business
  • How has brand price inflation impacted your trend?

  • Are you applying point of sale rebates to help lower member out-of-pocket costs?

  • Does your formulary strategy help maximize the benefits of lower-cost generics?

Want to learn how to effectively leverage management strategies to lower your trend?