Pharmacy Carveout Solutions and Specialty Medication Strategies in 2024

A Brown & Brown Event

 

Approved for  2 SHRM & HRCI CREDITS

A Discussion with Brown & Brown’s Employee Benefits Team and TrueScripts

Prescription drugs (Rx) constitute 25-30% of overall medical plan spending and continue to increase annually. Two key strategies could help reduce this burden while improving employee access to obtain the Rx they need. Several factors play into this, including increased usage of GLP-1 medications and the consistent introduction of new specialty medications. Brown & Brown’s Employee Benefits Team and TrueScripts will cover the issues facing the market and provide solutions around each.

Key takeaways from this webinar:

Problem: Pharmacy Expenses are Rising – Why?

  • Understanding how pharmacy benefits managers (PBMs) earn money
  • GLP-1 medications for weight loss
  • Consistent introduction of new specialty medications
  • Pharmacy rebates captured by the TPA, not the employer
  • Lack of visibility and accessibility for lower costs for employees and dependents

 

Solutions: Pharmacy Carve Out, Leveraging National Pricing and Controlling GLP-1 Use Cases

  • Advantages and disadvantages of carving out pharmacy
  • The importance of gaining transparency
  • Leveraging national drug pricing
  • Advantages to the member and the plan
  • Determining when the strategy is suitable
  • Effective implementation strategies

When

Tuesday, August 6th, 2024

11:00 AM ET

Where

Teams Webinar

Once registered, you will receive an email with the calendar invite. Your link to join the webinar will be included in the event description.


Tim Mudd
SVP at Brown & Brown of PA

Tim brings over 8 years of expertise in self-insured health plans and strategic healthcare cost reduction strategies at Brown & Brown. He excels in maintaining client relationships through a timeline and data-driven approach.

Throughout his career, Tim has demonstrated unwavering dedication to prioritizing clients and their employees. He consistently identifies strategic opportunities to benefit both parties through innovative initiatives. Tim meticulously evaluates new solutions before introducing them to ensure they are well-vetted and deliver substantial returns for all stakeholders.

Recognized as one of Pennsylvania’s top broker consultants multiple times, Tim's accolades reflect his ongoing commitment to customer support and deep industry knowledge.

Lisa Gish, RN, MHA, CPBS
Director of Product Market Strategy at TrueScripts

With a comprehensive understanding of the healthcare landscape from multiple angles, Lisa has emerged as a steadfast advocate for patient-centered care, transparency, and accountable payment practices. Her journey has led her through various realms of healthcare, including provider, payor, and employer sectors.

Throughout her career, Lisa has remained dedicated to prioritizing patients' needs and advocating for transparent practices. Her efforts have been instrumental in aligning payment incentives to ensure accountability and fairness within the healthcare system.

A seasoned professional in the realm of employer healthcare, Lisa has specialized in optimizing prescription drug benefits for organizations. Her expertise spans the intricacies of pharmacy benefit management (PBM), ranging from contractual nuances to the implementation of clinical programs. Known for her ability to demystify complex topics surrounding prescription drug benefits, Lisa has empowered countless stakeholders with invaluable insights.

Currently serving as the Director of Product & Market Strategy at TrueScripts, Lisa continues to leverage her wealth of experience and expertise to drive innovation and excellence in healthcare solutions. As a Certified Pharmacy Benefit Specialist® and licensed professional in life, health, and accident insurance, Lisa remains at the forefront of advancing healthcare practices that prioritize patient well-being and accessibility.

Hannah Denson
Director of Business Development at TrueScripts

In an industry that can be difficult to navigate, Hannah is committed to helping employers curb rapidly rising healthcare costs while guiding members through the challenging and complex maze of healthcare. Hannah is passionate about making new connections and supporting TrueScripts’ mission of building lasting relationships and providing Amazing Care to every client and member.