Specialized consulting services like Chelko Group offer value-based drug management designed to reduce prescription drug costs and waste for self-funded employers. We apply data-driven, conflict-free strategies to control pharmacy benefits, improve plan member outcomes, and curb overall drug trend spending. (more…)
Value-based drug management is an approach that focuses on reducing prescription drug costs by targeting waste, high-cost specialty claims, and excessive profiteering, rather than simply chasing discounts and rebates. For self-funded health plans, it represents a fundamental shift in how prescription benefit costs are managed and where attention is directed. (more…)
Pharmacy Benefit Manager (PBM) audits are a powerful tool for employers seeking to reduce healthcare costs and ensure transparency in their pharmacy benefit plans. This guide demystifies the PBM audit process, explains its importance, and provides a practical roadmap for HR, finance, and procurement leaders to maximize value and protect plan assets. (more…)
What a great movie and inspiring story! Of course, if you’ve seen the movie, you know that much of the story is really about the contrast and tension between the team of Carroll Shelby/Ken Miles and the venerable industry giant, Ford Motor Company. Ford had the industry might, but it couldn’t leverage its resources sufficiently to beat Enzo Ferrari and his team. (more…)
QUESTION: How can we afford life-saving drugs?
ANSWER: Spend less on non-life-saving drugs!
Now that wasn’t so hard. (more…)
We recently heard of a broker calling on employers with the promise of negotiating higher rebates, and only charging a modest “shared savings” price based on guaranteed increased rebates.
The unfortunate reality is that most buyers and brokers/consultants continue supporting the false narrative of larger rebates equating to a better deal. With rebates growing exponentially (especially in certain classes of drugs), the lure of what seems like a windfall of money is proving increasingly tough to resist for plan sponsors and their advisors. (more…)