What to Do When the Specialty Drug Wave Hits You

Abstract

As costly specialty drugs become the standard of care for an increasing number of complex and chronic diseases, double-digit annual increases in overall pharmacy spending are expected. The rise in use combined with the high cost of these drugs will become an increasing strain on health care budgets over the next five years - a problem that can hit employers suddenly and with great force. Based on average increases in recent years, pharmacy benefit manager Prime Therapeutics predicts specialty costs will grow 15 percent per year due to the increasing use of drugs, high price tag that continues to rise and flood of specialty drugs coming on the market. Plan sponsors who act now can better manage these drugs through the savings and efficiencies brought by specialty pharmacy benefit design and plan administration.