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All Things Pharmacy
October 23, 2019
Brought to you by PCM
Be in the Know
California is the first state to ban pay-for-delay tactics that slow down generic releases.
Researchers claims drug makers raised prices without clinical support for increase.
New treatment for peanut allergy approved by FDA advisory committee.
Federal agencies issue new guidance on drug coupon rebates for self-insured groups.
FDA recalls popular heartburn drug ranitidine (Zantac).
What is your pharmacy strategy for 2020?
Another year has nearly passed with little change in how the pharmacy industry operates. Pharmaceutical companies are still raising drug prices, PBMs are still receiving clawbacks, and brokers and employers are still searching for the magic formula to save money. Fortunately, we do know that the variables of that seemingly elusive formula are found in pharmacy claims. Those binders, spreadsheets, and charts you receive every year at renewal contain the details needed to affect positive change for your pharmacy plan – you just have to know where to look.
Don’t waste another year doing what you’ve always done and hoping for the best. Start developing a solid pharmacy strategy now to finally control pharmacy spend in 2020.
The foundation of a solid strategy-
An effective, cost-savings pharmacy strategy is built on deeper visibility into your pharmacy claims. In order to control spend, you must identify exactly where your money is going. However, with over 50 fields and hundreds, if not millions, of rows in a standard claims file, it can seem all but impossible to productively aggregate your data.
Start by asking questions. Many common pain points are not explicitly included in standard reports, so creating an effective strategy starts by initiating discussions about pharmacy claims with key stakeholders.
Our pharmacy team has developed four strategies that will help you dig into your pharmacy data. Today we’re sharing two of those strategies to help you start conversations and begin building a solid 2020 pharmacy strategy.
PGx: Encourage informed medication decisions
Trial-and-error is not a treatment plan. Pharmacogenomics testing (PGx) is a simple oral swab that identifies drug-gene interactions in a patient, helping patients and doctors make informed medication decisions.
Certain drugs are more effective with certain genotypes. By identifying drug-gene interactions, doctors can make more informed medication decisions. PGx is most commonly applied to pain management, psychiatric, neurological, blood thinners, anti-anxiety, opioids, and cardiac therapies.
With PGx testing, people experience better health outcomes and may save money on prescription
Identify Breast Cancer Early
October is National Breast Cancer Awareness Month. Breast cancer is one of the most common types of cancer in women. About 1 in 8 women born today in the United States will get breast cancer in their life.
Fortunately, most women can survive breast cancer if it is identified and treated early.
- If you are a woman age 40 to 49, talk to your with your doctor about when to get a mammogram. If you are a woman age 50 to 74, be sure to get a mammogram every two years.
-If you have close family members who have had breast or ovarian cancer or you have multiple risk factors, talk to your doctor about getting a mammogram and setting up a prevention plan.
For over 10 years, Prescription Care Management has been solving complex pharmacy problems
with a client-centric approach. Simply put, we help self-insured organizations see where their
pharmacy dollars are going and cut spend where it counts.
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