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The pandemic has shone a light on new areas of pharmacy benefit management where benefits professionals and PBMs can not only cut costs, but also make a tremendous impact on employee health.
It’s been a year of disruption and unpredictability for benefits professionals, and the long-term financial impact of the pandemic on employer costs has yet to be determined. With many plan sponsors grappling with what the future will look like and how to lower costs while improving employee health and access to care, pharmacy benefits in particular will be put under the microscope.
Related: Clearing the murky pharmacy swamp – with Robert LeCureaux
Employers are feeling the pressure to cut costs and gain greater control over their pharmacy spend due to economic constraints and shrinking budgets as the year wraps up. While organizations will continue to invest in pharmacy benefit management (PBM) partners to achieve cost savings, a few key areas of pharmacy benefits will drive significant impact in 2021. Here are four trends benefits professionals should watch for in the year ahead:
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