Andy NearyI help insurance professionals turn brand awareness into business growth.

SOTSQ Episode 27 11 22 2018

20 Nov 2018 · 1 min

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1:14

Andy Neary shows how one employer cut prescription drug costs by 96% in a month: 19 fills that should have cost $78,382 came to $3,295. He calls it low-hanging fruit for health plans, especially those run by Optumrx, Caremark, or Express Scripts.

Questions this video answers

19 prescription fills.

96% savings.

$78,382.

$3,295.

Over $75,000.

Chapters

So last week I shared with you why attacking the cost your prescription drugs provides low hanging fruit to help you save substantial money on your health insurance plan. This week I want to share a case study of an organization that has done just that. So let's take a look. In one month's time period, with just 19 prescription fills, this company was able to achieve 96% savings on those 19 fills. The actual cost of the drugs would have been $78,382. But through a pharmacy solution, this company was able to source those medications at a total cost of $3,295 for a savings of over $75,000 in one month's time period alone. Now, if you're sitting there looking at rising pharmacy costs, you got one of two choices. You can either keep doing what you've always done and keep getting the same result, or you can do something about it. Let me tell you, if your current pharmacy plan is being administered by one of the big insurance companies or one of the big three pharmacy benefit managers, Optumrx Care or Express Grips, this is low hanging fruit. Now's the time to take action. Do it now. If you need help, let's chat and I can set you up with the right solution. Until next time, Happy Thanksgiving. And remember, bear down, focus on the target, and strike out the status quo.