Employers Step Up Efforts To Manage High Cost of Prescription Drugs

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Employers are increasing their focus on managing prescription drug spending, especially high-cost specialty medications used to treat chronic illnesses.

This finding comes from the 21st annual Willis Towers Watson Best Practices in Health Care Employer Survey, which surveyed 600 U.S. employers about their health program decisions and strategies.

“High price tags for specialty drugs are the main driver of employers more carefully examining their spending on pharmaceuticals and how they manage their employee pharmacy benefit programs,” said Nadina Rosier, North American pharmacy practice leader for Willis Towers Watson.

Previous Willis Towers Watson survey data revealed that nearly  90% of employers have identified managing pharmacy spending as their top priority over the next three years, so we will no doubt see more on this topic as employers seek solutions to manage cost.

For six common strategies employers are using to combat the rising cost of prescription drugs, see the complete press release from Willis Towers Watson here.

[Photo Credit: Ged Carroll on Flickr via Creative Commons 2.0]

This post appeared on the OneExchange Blog on December 6th, 2016 and can be viewed there by clicking here.
Willis Towers Watson is a leading global professional services company and operator of the nation's largest private Medicare exchange. Willis Towers Watson OneExchange is the industry’s only holistic private exchange solution, offering exchange options for U.S. employers and their active, part-time and retired workers.