Prescription drug spending continues to be one of the most pressing concerns for employers when it comes to health care costs. And while drug costs, especially for specialty pharmacy drugs, are expected to continue to rise, there are strategies that may help businesses keep those increases to a manageable level, especially if they can develop partnerships with brokers and pharmacy benefit managers.
Drugs drive health care spending
There is widespread agreement that drug costs are not rising as sharply as they have in the past—but the trends are still not good for employers. Specialty pharmacy has become the focus, as both costs and demand continue to grow.
“The specialty pharmacy trend is a significant concern and it is not abating,” says Ellen Kelsay, chief strategy officer for the National Business Group on Health. “When you look at the drugs in the pipeline, there's no indication that trend will moderate in the future.”
A recent survey by Mercer found that up to 50 new specialty drugs are expected to hit the market annually for the next five years, which could increase costs for employers by $25 billion annually. A story by Reuters on the Mercer survey noted that one new specialty drug treatment for leukemia costs $475,000 per patient.
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