Managing The Challenges Of Increasing Medication Costs In Auto No-Fault Insurance
- Topics:
- Business Consulting,
- Healthcare Services,
- Insurance
- Tags:
- Business Operations,
- Corporate Insurance,
- Insurance,
- Insurance Company,
- Medication,
- Medication Cost,
- Progressive Medical
- Source:
- Progressive Medical
FREE Registration is required
Overview: Challenges associated with managing medication costs include price inflation, paying for expensive brand medications, and filling non-compensable medications. Without proper management, these challenges can cause an overall rise in the cost of pharmacy expenses and a decrease in insured satisfaction. Auto no-fault insurers can gain more control over medication costs by putting the proper processes into place. An effective way to do this is by working with a Pharmacy Benefit Manager (PBM). A PBM offers programs and services that give auto no-fault insurers more insight into their company's total medication costs while streamlining pharmacy benefit processes. This paper examines the role of a PBM in assisting auto no-fault insurers to address the challenges associated with managing medication costs.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 362KB | Date: Mar 2008 | Pages: 16
