Prescription drug spend in the U.S. continues to rise at an all-time rate, and with pharmacy benefit costs representing nearly 20-25% of overall total healthcare costs, employers need new ways to manage their pharmacy program. To meet this need, Marsh & McLennan Agency developed MMA Rx Solutions, a proprietary approach that helps employers understand their pharmacy plan options while also maximizing bottom line savings. The approach is three-pronged:
- Pharmacy Contract Audit: Assessment of current contract to uncover areas of overspending and vulnerability
- Tailored Solutions: Customized plan solutions based on audit findings to lower spend
- Total Oversight: Ongoing management, review and strategy related to pharmacy plans to ensure performance and continued competitiveness
In the last two years, the MMA Rx Solutions approach has saved clients over $100 million in pharmacy spending. Specific to hospitals, MMA Rx Solutions has collectively saved 20 hospitals $10 million and continues to manage their pharmacy strategy today with expertise in GPOs, 340B programs, steerage to in-house pharmacies, prescribing behaviors that drive plan cost and more. For more information on MMA Rx Solutions, contact Michael Worsman at (919) 433-2109 or at michael.worsman@marshmma.com. Learn more at https://www.mma-midatlantic.com.
