Your Pharmacy Benefit Program May Be Leaking (and Losing More Money than You Realize)
- Room: South Pacific A-B
- Session Number: MP2
Wednesday, October 20, 2021: 2:30 PM - 3:30 PM
Speaker(s)
Description
When the former Director of the Ohio Bureau of Workers’ Compensation pharmacy program agreed to an audit of his pharmacy benefit management process, he had no presumptions about the outcome. So he was shocked to see a report detailing nearly $19 million in overpayments for generic drugs! The audit of 675,271 claims representing a drug spend of roughly $84 million uncovered this and a host of other issues. In this information-packed session, two highly respected workers’ comp leaders discuss the various ways that employers, third party administrators and insurers unknowingly overpay for injured workers’ medications.
Track(s)
Learning Objectives
• Take away a high-level understanding of pharmacy pricing to help you decide if your program and PBM performance needs to be evaluated
• Learn the criteria to use to select a good PBM partner
• Learn ways to negotiate a better contract and arrangement with your PBM
Handout(s)