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Press Release Midwest Business Group on Health and RxResults Partner to Help Employers Manage Specialty Drug Costs |
Issued by Midwest Business Group on Health May 19, 2020 |
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 About RxResults About the Midwest Business Group on Health BL:hh |
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