Specialty Drugs & the Containment of Plan Crippling Costs

Over the past several months, plan sponsors insurers alike are looking for new ways to deal with the ever rising cost of Specialty Drugs, provided through rx plans.

High-cost specialty pharmaceuticals is one of the fastest growing areas in pharmaceuticals. Today, there are more than 200 specialty drugs available for conditions ranging from Hepatitis C to cancer, with prices ranging from $5,000 to $300,000 per treatment year.

In the mid-1990s, when fewer than 30 specialty drugs were on the market, few employers worried about the impact to their balance sheet. Today, there are more than 200 specialty pharmaceuticals available and a decade from now, that number is anticipated to have grown to more than 400. With an average price tag between $5,000 and $300,000 per year, employers are increasingly aware of the impact these “designer drugs” have on the performance of their Employee Benefit Plan.

AmWINS Has developed a unique insured approach that will significantly mitigate these potentially enormous liabilities. AmWINS Specialty Rx provides for:

• Improved employer cash flow management
• Case Management support
• Elimination of Buy and Bill practices (real dollar savings)
• Potential reduction in overall medical expenditures

Please contact me directly at marc.gilday@amwins.com with questions, or to learn more about how this unique program can help you help your clients.

Be sure to follow the link to read more about this issue in an article that appeared in Health Plan Week -