Expenditures on pharmaceutical products have been rising 10% every year for the last several years, leading to double-digit increases in prescription drug spending. Healthcare payers continue to create drug formularies to cap spending and reduce costs.
Formularies are lists of drugs covered by a health plan or pharmacy benefit manager (PBM). Payers can create formularies with several tiers, each with a different level of patient cost-sharing – the amount that a patient pays out of pocket for a drug. Drugs that are typically placed on specialty tiers include treatments for cardiomyopathy, cancer, rheumatoid arthritis, multiple sclerosis, hepatitis C, and other conditions.
We have introduced the Fast Facts: Increasing Patient Cost-Sharing and Using Tiered Formularies microlearning module to help equip sales and account management teams with the most relevant and current information on how patient cost-sharing and tiered formularies affect various stakeholders in our value-based healthcare system.
Fast Facts: Increasing Patient Cost-Sharing and Using Tiered Formularies gives an overview of various tiered formularies that affect patient cost-sharing, types of cost-sharing, and how the prevalent practices of the cost-sharing tactics affect different stakeholders. Most importantly, sales and account management professionals will learn to address access challenges that commonly arise for patients and customers.
Chat with a CMR training expert to learn more about this training.