The data behind the drugs: New strategies for lower prescription drug costs

Multicolored pills.

Emerging therapies with high price tags known as Specialty Medications have driven overall drug prices higher even as traditional medication costs fall. Inflation, defined as a manufacturer raising the prices of existing medications, has further nudged drug costs skyward. This has significant financial consequences for individual consumers already facing mental or physical health challenges, as well as employers struggling to control drug trend every year.

One of the most effective ways to lower overall spending is by pulling back the curtain on prescription drug data. Understanding and having access to the right quantitative information ensures that the right medications are being distributed at the right time for the best price. The potential cost savings — which may reach into the thousands depending on current practices — can be redistributed to resources that further improve employee wellbeing and initiatives that drive business growth.