Prescription benefits are one of the things that keeps self-insured employers and consultants up at night. We’ve written in the past about the growing problem and some potential strategies for battling high prescription costs. But today, we want to walk you through some tactical tips.
One of the things that sets the Artemis Platform apart from other data tools is our unique data models. We tapped clinical experts and analytical talent to help us bring answers to you, right from the start. Let’s look at some examples of how you can put this to use when digging deep on Rx spend.
Use the Explore App to get an overview of drug costs by name. This way, you can see which prescriptions are costing the most and where to focus your energy.
Standard Stories helps Artemis clients keep an eye on a number of different trends, including the connection between pharmacy claims and high cost claimants. When you correlate and compare pharmacy data and health data, you’re better able to predict costs and roll out appropriate care management to members.
The Actionable Overspending App includes a section on “Inappropriate Rx Quantity.” This unique data model shows literal drug waste—prescriptions that were overprescribed or not fully utilized by the patient. Use this story to target member types, medical plans, monthly costs, and common drugs that are oversupplied to your population.
Work with our Analytic Advisors and clinical resources to identify potential therapeutic substitutions. In this analysis, we found a generic diabetes drug that could save the employer 99% of their costs on this prescription.
Each of these examples can be shared with other users of the Artemis Platform, or exported for use in presentations or reports. Share your findings with your C-suite, your PBM, or your clinical staff to help make a difference in your pharmacy spending.