Pay Attention to Specialty Drug Rebates
08/20/24 • 2 min
The Institute of Medicine believes 20-25% of every $1 spent on healthcare is wasted. I see this often with specialty drugs. My team just met with a company of 300 employees last week and they didn’t realize they were essentially giving away $500,000/yr to their insurance company and big pharma. YIKES!
Read the contracts!! Or hire someone who will!!
Music by Alex Lambert.
Contact Justin via text 740-525-5259 or via email [email protected]
I welcome the opportunity to hear your feedback from this episode!
Thanks again to my musically gifted friend Alex Lambert for the music. Also thanks to Kevin Asehan for the edits.
The Institute of Medicine believes 20-25% of every $1 spent on healthcare is wasted. I see this often with specialty drugs. My team just met with a company of 300 employees last week and they didn’t realize they were essentially giving away $500,000/yr to their insurance company and big pharma. YIKES!
Read the contracts!! Or hire someone who will!!
Music by Alex Lambert.
Contact Justin via text 740-525-5259 or via email [email protected]
I welcome the opportunity to hear your feedback from this episode!
Thanks again to my musically gifted friend Alex Lambert for the music. Also thanks to Kevin Asehan for the edits.
Previous Episode
GLP-1s & the Trade Offs of Weight Loss Drugs
“What do we do about GLP-1s?” A CFO recently asked me (after seeing their health plan has an additional $300k of annual cost from the uptick in GLP-1s).
Well that’s tricky - we know the cost is currently around $1,000/month. We know over 70 companies are working through the FDA approval process. We expect this will bring the cost down - which begs the question.
At what point is their financial incentive to make the investment (to cover weight loss drugs) in your workforce? Tangibly, as a fiduciary, would you be willing to invest $5,000/yr into an employee if it significantly reduced the chances of future comorbidities?
What can we do to increase behavioral change in tandem?
These are intriguing and sensitive conversations that all leadership teams will be, if not already, considering.
Music by Alex Lambert.
Contact Justin via text 740-525-5259 or via email [email protected]
I welcome the opportunity to hear your feedback from this episode!
Thanks again to my musically gifted friend Alex Lambert for the music. Also thanks to Kevin Asehan for the edits.
Next Episode
Listener Question: How Can We Get the Drug Cheaper?
Great question from a listener. If we don’t pay attention, then we run the risk of wasting so much money in the US healthcare system!!
Music by Alex Lambert.
Contact Justin via text 740-525-5259 or via email [email protected]
I welcome the opportunity to hear your feedback from this episode!
Thanks again to my musically gifted friend Alex Lambert for the music. Also thanks to Kevin Asehan for the edits.
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