MedImpact Holds 2016 Annual Trend to 2.9 Percent
MedImpact, an independent, trend-focused PBM, held its 2016 overall annual trend to a mere 2.9 percent. The MedImpact Annual Trend Report examined the annual trend by breaking it down into traditional and specialty drugs.
Trend for traditional drugs actually decreased overall by 0.7 percent. Not surprisingly, specialty drug trend increased 10 percent in 2016, and represented only 0.7 percent of claim volume, but accounted for 36 percent of total spend.
Healthcare continues to be one of the most dynamic industries, and has become a primary focal point in the United States, given the current political landscape. Even as the future direction of healthcare is uncertain, plan sponsors are experiencing numerous market dynamics impacting budgets in the area of pharmacy benefits.
The past three years have brought significant and expensive drugs to market. Market entry of high-cost “innovative” specialty drugs brings blockbuster drugs, resulting in plan sponsors to develop new strategies in response.
Recent market trends demonstrate rising costs stem from a variety of factors, including:
MedImpact is highly focused on the budget impact of high-cost specialty drugs. It is more important than ever to understand what drugs are in the clinical pipeline for Food and Drug Administration (FDA) approval, and the potential budget impact those new agents will have on plan sponsors. Beyond knowing what is in the pipeline, plan sponsors must develop strategies in advance of product launch to help ensure budget impact is held to a minimum.
The data in the MedImpact Annual Trend Report demonstrates our ability to effectively manage trend and drive to low-net cost in the face of rising drug costs. Our work over the last year has allowed our clients to balance savings with member satisfaction to deliver quality pharmacy benefit services without sacrificing the bottom line.