Did you know an estimated 30% of healthcare spending is waste? In this case study, we’ll dive deep on one key contributor to wasted spending: prescription costs.
How do you find actionable insights in your benefits data? This customer wanted to find ways to curb their prescription spending. They knew data could help them identify opportunities for savings, but they didn’t know where to start. In this case study, we’ll look at how this customer saved on their prescription spend using the Artemis Platform.
How do you go from thousands of pharmacy claims to actionable solutions? This is where Artemis comes in. Our proprietary data models and easy-to-use analytics tool helped this customer take action on an expensive prescription that’s available over the counter—fish oil supplements.
The Artemis Platform makes it easy to find and track wasteful spending. In just a few clicks, we mined Rx data and found claims for members taking prescription fish oil. An individual claim can cost as much as $170, while a 90-day supply of equivalent OTC fish oil retails for about $7.
This analysis uncovered a clear opportunity for savings. The employer can work with their PBM to require prior authorization on prescription fish oil that would only be approved if:
The client’s potential savings adds up to over $11,000 per year.