As a team of benefits strategists, we work hard every day to make sure we’re exceeding client expectations and providing the most innovative and value-generating plan designs and advisory services.
As the new coalition of health advocacy organizations called EmployersRx (Employers’ Prescription for Affordable Drugs) ramps up its efforts to impact “lowering drug prices and promoting price transparency,” we’ll certainly be watching.
At Apex, we’ve dedicated many resources to helping businesses learn how to bear less of the financial burden of rising healthcare and pharmaceutical costs.
“As the largest collective purchaser of health care, businesses have a responsibility to employees and their families to tackle this important issue,” said Elizabeth Mitchell, president and chief executive officer of PBGH, in an article published October 11 on HealthPayerIntelligence. The coalition comprises health advocate groups including the Pacific Business Group on Health (PBGH), the ERISA Industry Committee (ERIC), and the National Alliance of Healthcare Purchaser Coalitions (National Alliance).
The article states, “First, EmployersRx calls upon drug manufacturers and PBMs to have greater transparency. The group says that these entities hide behind a convoluted and discrete pricing process to overcharge not only employers, but also patients, taxpayers, and the federal government. To unravel drug pricing’s complexity, employers are seeking legislation that demands greater transparency surrounding drug price changes.”
Apex executives recently gave a similar message to a special committee of the Indiana General Assembly. See more in “Apex Executives Testify on High-Cost Drug Trends.”
Managing High-Cost Medications Event
Anyone responsible for managing the costs of employee benefits is invited to attend the free event, “A Prescription for Managing the Impact of High-Cost Medications,” on November 13, 2019 at the Biltwell Center. Top executives from Eli Lilly and Company, Cigna/Express Scripts, Swiss Re and Apex Benefits will be speaking about high-cost medications and what employers should know in order to be more aware of what’s impacting their healthcare spend and how to reduce that spend.