Tackling Rising Pharmacy Costs | EHIR Pharmacy Benefits: Pushing Towards Transparency and Savings
Rising pharmacy costs are a significant concern for organizations striving to provide comprehensive employee benefits. At AffirmedRx, we understand these challenges. As a Public Benefit Corporation dedicated to building trust through transparency, we are committed to helping employers navigate pharmacy benefits so every detail is clear and every decision is made with confidence.
Rising Pharmacy Costs: A Pressing Concern
Recent data from the Employer Health Innovations Roundtable (EHIR) underscores the urgency of this issue. According to the newly published report, 72% of survey respondents experienced a pharmacy cost trend increase of 4% or more over the past two years. This cost surge is prompting many organizations to reconsider their pharmacy benefit management (PBM) strategies. In fact, 51% of EHIR member survey respondents are contemplating changing their PBM or adding another pharmacy vendor for 2025 or 2026.
Transparency: The Key to Cost Control
One of the core issues identified by employers is the lack of transparency in what drives these escalating costs. Without a clear understanding of the factors at play, it’s challenging for organizations to make informed decisions that can effectively manage and mitigate these expenses.
AffirmedRx: Partnering for Solutions
Our participation in EHIR’s research report reflects our ongoing commitment to providing innovative, transparent solutions for pharmacy benefits. We are proud to contribute to a comprehensive resource that outlines effective strategies and tools for managing pharmacy benefits.
What You’ll Find in the EHIR Research Report
The EHIR research report is a comprehensive resource designed to help employers effectively manage their pharmacy spend while reducing financial burdens on members and improving health outcomes. Here’s what you’ll see in the report:
- Current Employer Approaches: Explore detailed findings on how leading employers are managing pharmacy costs, demanding greater transparency from the industry and improving navigation for their members.
- Experiences and Solutions: Gain insights from forward-thinking leaders in the employer benefits space.
- Case Studies and Program Offerings: View in-depth case studies and supplemental information provided by leading vendors in the space, including AffirmedRx.
- Vendor Landscape Overview: Get an overview of the vendor landscape, identifying many of the leading providers of innovative solutions in pharmacy benefits.
- Evaluation Questions: Access a set of essential questions to consider when evaluating these vendors for your own company.
Moving Forward with Confidence
At AffirmedRx, we know that knowledge is not only power but legally required. By equipping employers with the information and tools they need, we help guide strategic decisions that align with their goals and values. This means employers are not left in the dark about the factors driving their pharmacy costs. Instead, they are empowered to take control and implement solutions that lead to better outcomes for their organizations and employees.
Download the Report
With transparency and innovation, we can address the challenges of rising pharmacy costs and create a more sustainable health care future.
