Skip to content
Happy formally dress lady smiling at people

TO THE POINT

Saving Members Millions

ARTICLE SECTIONS

Question: What happens when our pharmacists focus on ditching unnecessary expenses and help our members streamline their pharmacy benefit plans?

Answer: Our members save $9.97 MILLION in one year.

A Savings Strategy That Works

Keep dental and medical benefit costs covered their own benefit plans.

This ensures that drugs are billed appropriately. How much did our members save compared to CVS Health’s employer book of business? $0.48 per participant in one year.

Differentiate medical devices from drugs covered.

Medical devices are not approved by the FDA drug approval process and they may be able to be purchased on a direct basis for a fraction of the cost billed to insurance. Implementing a thorough vetting process resulted in the removal of select medical devices and saved our members $0.34 per participant in one year.

Design your plan to replace high cost products with lower cost alternatives.

Strategic plan design and personalized clinical programs resulted in saving $18.35 per participant in one year.

Remove pharmacy service providers that employ questionable antics.

Our in-house pharmacists work to remove questionable pharmacy providers, saving $3.72 per participant in one year.

“Our team of on-staff pharmacists is another factor that sets us apart from the competition. Their drive to provide top-notch benefits to participants while saving employers money knows no bounds”

-Deb Thomsen, VP of Coalition Development

Do not cover medical foods.

They are not approved by the FDA as drugs and do not require a prescription. Not covering them under the pharmacy benefit saved $0.31 per participant in one year.

Encourage the use of authorized generic drugs.

Authorized generics are identical in all aspects to their brand name counterpart. Encouraging authorized generics saved members $4.10 per participant in one year.

Strategies That See Results

Totaling up the strategies, our members saved an average of $23.20 per participant in one year over the CVS Health employer book of business. This resulted in an aggregate annual savings of more than $9.97 million in 2021 alone.

MORE EDUCATIONAL BRIEFS

Person reading the label of a prescription drug
Off-Label Drug Use

Using an approved drug for a disease or medical condition that it was not approved to treat is known as off-label drug use. It is a common occurrence across the nation and has recently increased in popularity with type 2 diabetes medications being used for weight loss…

Read More
Coworkers talking happily at table while working
How Your Account Team Can Help

“National CooperativeRx does a number of things very well. The education, the updates and the clinical programs are really what is appreciated once they become members.”
– Mark Mason, Insurance Broker

Read More