Fact or Myth: The Truth Behind a Lowest-Net-Cost Approach to Manage Pharmacy Spend

About this Webinar

Tuesday, May 18; 12 pm – 1 pm ET

Tired of efforts to lower pharmacy costs that have little impact on your bottom line? Frustrated that the industry always seems to find ways to add cost without adding value?

Faced with economic pressures from the COVID-19 pandemic, prescription affordability and pharmacy benefit spend is under the microscope, compelling plan sponsors to find better ways to manage costs while preserving quality care for members. Choosing the right drugs for a formulary can be a significant cost savings opportunity for plan sponsors. By taking a closer look at a few key plan components, you can gain a better understanding of your pharmacy benefit and determine fact from myth when it comes to achieving a lowest-net-cost formulary.

During this session, you will discover:

  • What a lowest-net-cost formulary really looks like, including examples and scenarios for different plan designs
  • How a PBM’s business model can influence formulary decisions
  • The facts behind rebates and discounts, and what the most important metric to look for is when evaluating a PBM
  • Strategies that target reducing costs and improving member health

Speakers:

Thomas Radloff, RPh.
Vice President, Account Management
Navitus
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Bob Zakrajsek
Senior Market Vice President, Sales
Navitus
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Sponsored By:

Navitus Health Solutions, a division of SSM Health Care and Costco Wholesale Corporation, serves as the industry’s alternative pharmacy benefit manager (PBM) to traditional models. As such, Navitus is committed to taking the unnecessary costs out of pharmacy benefits to make prescriptions more affordable for plan sponsors (i.e. employers, health plans, unions, governments, etc.) and their members. By combining a unique pass through approach that returns 100% of rebates with a focus on lowest-net-cost medications and comprehensive clinical care programs, Navitus helps reduce costs and improve health. To learn more about Navitus, call 877.571.7500 or visit www.navitus.com