by Team PCM | Mar 24, 2022 | Blog Post, Pharmacy Benefits
Americans spent $328 billion on prescription drugs in 2020, eight percent of total healthcare spend. The rising cost of medications is motivating employers, especially those who are self-funded, to invest in pharmacy savings programs. A popular type of pharmacy...
by Team PCM | Feb 24, 2022 | Blog Post, Pharmacy Benefits
Research on gene-therapies began in 1960 with the hypothesis that introducing DNA sequences into patients’ cells could cure genetic disorders. Decades of research have made these therapies a reality with current treatments for spinal muscular atrophy...
by Team PCM | Jan 18, 2022 | Blog Post, Pharmacy Benefits
High-cost prescription drugs have been wreaking havoc on pharmacy plan budgets for over a decade. However, did you know that drugs costs also affect medical plan costs? Drugs are billed in either the medical or pharmacy channel of a plan. Medications that the patient...
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...
