In an environment where nearly 1 in 4 Americans taking prescription drugs say it’s difficult to afford their medications and 70% of workers access health care coverage through an employer-sponsored plan, plan sponsors and health plans must continuously seek solutions to lower drug cost. Moreover, new and novel therapies present both significant advancement in treatment and cost management implications.
Commercial payors, challenged to balance affordability with attractive benefit offerings, are demanding transparency to understand their true costs, set goals and align expectations with their partners.
In an effort to support this call for true transparency as well as a mission to make medications more affordable, Navitus Health Solutions has published its annual Drug Trend Report. It highlights a well-controlled year-over-year trend of 2.6%, including both specialty and non-specialty products. Half of Navitus’ commercial clients experienced a drug spend decrease.
Key findings from the report reveal the effectiveness of Navitus’ pharmacy benefit management model:
- Year 1 Savings for New Clients in 2022: New Navitus commercial clients realized an average reduction in total drug cost of 12% compared to 2021 with another PBM.
- Unit Cost Decrease on Specialty Drugs: While higher utilization fueled an increase in overall specialty drug spend, Navitus clients saw a decrease in specialty unit cost by implementing formulary management strategies that prefer lower-net-cost alternatives.
- Negative Cost Trend for Diabetes Drugs: Despite expanded use of Glucagon-Like Peptide-1 Receptor Agonists (GLP-1s), Navitus achieved an overall negative cost trend for the diabetes category and clients received 100% of available manufacturer rebates.
Navitus’ fully transparent, 100% pass-through model bolsters its lowest-net-cost philosophy. By favoring clinically-appropriate, lowest cost medications, clients and members realized significant savings. Access the full Navitus 2022 Drug Trend Report.
To speak with us about how Navitus can lower your drug costs, please contact email@example.com.