CHICAGO – May 19, 2020 – The trend of rising drug costs continues, driven largely by specialty drugs with expenditures totaling $157 billion in 2017 and growing. To assist employers faced with managing this critical issue, the non-profit Midwest Business Group on Health (MBGH) has entered into an agreement with RxResults, an evidence-based pharmacy risk management firm.
RxResults will support EmployeRxEvolution, an employer-driven program developed in collaboration with MBGH and its non-profit employer purchasing organization, the Midwest Health Purchasers Collaborative. The initiative is focused on transforming the way pharmacy benefits are paid for and delivered – and one of the cost-effective ways to achieve this is to mitigate specialty drug risk.
“Independent clinical review of prior authorizations for specialty drugs through pharmacy and medical claims reduces cost for the member and the plan, while getting the right drug at the right time to the member,” said Cheryl Larson, MBGH president and CEO. “RxResults will enable us to provide our members with proven solutions to mitigate risk and control specialty drug spend and utilization.”
RxResults offers pharmacy risk management solutions to ensure access to medications proven safe and effective while providing cost control, removing specialty drug conflicts of interest and eliminating misaligned incentives
Specialty drugs are high-cost prescription medications used to treat complex, chronic conditions like cancer, rheumatoid arthritis, and multiple sclerosis, often requiring special handling and specific administration techniques.
“Controlling specialty drug spend continues to be a critical concern for plan sponsors,” said LG Hanzel, principal and vice president at RxResults. “We are pleased to be joining efforts with MBGH which has been a pharmacy and specialty pharmacy thought leader for their employer members for several years.”
EmployeRxEvolution connects benefits purchasers with unbiased leading experts to help them clearly define and optimize PBM contracts to achieve transparency, flexibility, and outcomes at the lowest unit drug cost. Employers can find more information and learn how participate here.
About Midwest Health Purchasers Collaborative
Founded by MBGH in 1980 as a taxable non-profit Illinois corporation, the Midwest Health Purchasers Collaborative (MHPC) is an independent entity with its own board of directors that annually oversees, manages and identifies purchasing opportunities to enhance the value of an employer’s health benefit dollars. Created to improve the quality, value and availability of health care delivered to employees, MHPC is working to make the health care system more accountable and responsive to the needs of health care purchasers and patients.
As the proven industry leader for evidence-based pharmacy risk management, RxResults is uniquely positioned to help plan sponsors mitigate risk, optimize plan performance and generate savings. A Pharmacy Risk Manager (PRM) doesn't replace a PBM. It serves to enhance the PBM model as an advocate for the plan sponsor and the plan participants. rxresults.com
About the Midwest Business Group on Health
MBGH is one of the nation’s leading non-profit employer coalitions of over 130 mid, large and jumbo self-funded public and private employers, representing almost 4 million lives and annually spending over $12 billion on health care. Members consist of leading health benefit professionals, with activities focused on education, research, benchmarking and community-based initiatives that increase the value of health benefits and health care services. MBGH is a founding member of the National Alliance of Healthcare Purchaser Coalitions. mbgh.org
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