Solid Benefit Guidance Releases White Paper Addressing Rapidly Growing Pharmacy Spend

MONTVALE, N.J. - Oct. 14, 2014 - PRLog -- Solid Benefit Guidance has released a white paper addressing the growing cost of pharmacy benefits to employers.

The Pharmacy Benefit Management (PBM) industry has experienced a dynamic shift, impacting the strategies for the products and services they provide.  This shift has fundamentally altered the traditional PBM cost management landscape for plan sponsors (employers and Taft-Hartley Funds).  Traditional PBM cost management strategies that have thrived in the past, simply cannot support the new cost drivers within the PBM programs of the future.   These changes threaten an employer’s bottom line in a way that they have not experienced from their Pharmacy Benefit Programs of past years.

Why Senior Management needs to understand the impact of growing Pharmacy Spend?
Historically, pharmacy-spend accounted for 15-25% of an organization’s overall benefit spend.  While complex in itself, plan sponsors benefited from a period of consistent pharmacy trends, healthy market competition and minimal industry change.  The traditional cost management strategy of analysis and discount evaluation succeeded in meeting plan sponsors financial objectives and has been overshadowed by the medical spend. This is no longer the case.

Email info@sbgbenefits.com to recieve the full, time sensitive, solution driven report.

About SBG

SBG, founded in 2005, serves Fortune 500 companies, privately held firms, Taft Hartley plans, non profit organizations, Blue Cross Blue Shield plans and regional health insurers.  Its clients represent over 30 milion covered Rx lives...about 10% of the US population.

SBG is focused on providing Managed Care Organizations and Plan Sponsors with the necessary guidance and expertise to manage the procurement of pharmacy benefits, along with a host of supporting activities including: financial and clinical program development, Medical and Specialty Medical pharmacy management, Medicare/Medicaid/Dual Eligible consulting and a full range of pharmacy audit services.

For more information, visit www.sbgbenefits.com