The next challenge of COVID-19: Reduce the Cost of Employer Rx, Improve Patient Access

In the weeks and months to come, the United States will begin to try to restart the economy and hopefully take steps to match the new norm.

 However, as this program progresses, our economy has been shaken to its core due to potential long-term consequences. In this new reality, American employers and health system sponsors will face daunting challenges because of the impact of COVID-19. 

That is why the policy of pharmaceutical benefit managers PBMs is so important. PBMs are hired by employers and health systems to reduce costs and improve access to prescription drugs, while helping to close health care premiums. 

Achieving these goals and continuing to find ways to help patients get their medication, while staying safe during the COVID-19 epidemic, is crucial.

 The first and most important coronavirus outbreak is a human disaster, affecting millions of people. It has also had a major impact on the global economy which has created an explosion of unemployed Americans, many of whom rely on employer-sponsored access to health care.

 Security programs, such as Medicaid and Exchanges, will be even more important than ever in providing the necessary protection options for patients.

 As an example of PBM's response to the growing number of insurers due to COVID-19, there is a new system that will cover the cost of providing a 30-day standard medication at $ 25 and at $ 75 in addition to over 40 brand-name drugs throughout the year, including insulin , contraceptives and products for heart disease and migraines. 

The sponsors of the insurance scheme - employers, self-employed plans, etc. - for decades have relied on PBMs to manage the cost of prescription drugs in a way that provides accessible access to independent patients. 

PBMs have brought that need by achieving a less expensive process by promoting competition between drug manufacturers and drug stores.

 In fact, recent research indicates that PBMs will provide more than $ 512 billion in savings over the next ten years to an employer-sponsored organization. health systems and staff and their dependents. 

By 2020, it is estimated that the average per capita cost of PBM in prescription drugs is $ 962. Now, and in the future, lowering the cost of prescription drugs will affect the entire economy and have far-reaching effects on health care. 

Every dollar spent on health benefits is a dollar that employers can use to create new jobs, raise wages, or invest in new ones. and drug stores to reduce copies and other out-of-pocket costs, negotiate price agreements from drug manufacturers, and promote the type of affordable drugs and generic drugs. 

Drug manufacturers should be commended for making an unprecedented effort to achieve the goals and treatment of COVID-19.

 But those treatments, once approved, must be made more widely available and affordable for everyone, and more importantly, chronic illnesses should always be available to patients. PBMs' proven track record of keeping drug costs low and providing patients with access to treatment will be crucial in achieving that goal. 

As the economy recovers in this difficult time, Winston Churchill's words are appropriate.

 "This is not the end. . " During this uncertain time and beyond, patients and program sponsors can rely on PBMs to use their technology and communication power to provide accessible access. on prescription drugs.