Pills on coin stacks harma-based reference pricing is proven to reduce non-specialty drug spend by an average of 20 percent annually. (Photo: Shutterstock)

The U.S. economy has been on a continuous rise since the Great Recession of 2009, making this the longest growth period since 1854, according to Bloomberg. However, a growing number of experts fear it won’t be long until this trend reverses. In fact, a recent survey by the National Association for Business Economics found that a majority of economists anticipate the next recession will hit within the next two years.

While no one can fully predict when another economic downturn will occur, benefit managers and the advisors they work with know they are responsible for keeping organizations prepared for changing economic tides whenever they come. Many benefits professionals are targeting pharmacy benefits first, as they are easiest to manage when dealing with geographically dispersed employees, and are using pharma-based reference pricing as a proven way to address rapidly rising drug costs.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.