Mike Buddenberg, MBA’s Post

Join Mike Stull and Madison (Evans) Connor, as they begin our 2024 PBM Sightline Series, with PBM Fundamentals. Attendees will gain insight into market forces impacting pharmacy trends, different PBM pricing models, strategies to manage specialty pharmacy and more. 📅: 2/27/2024 🕰️: 3:00PM - 4:00PM ET Learn more and register for the webinar below. #pbm #webinar #healthbenefits

Are you evaluating your Pharmacy Benefit contract this year? Part 2 of our Sightline Series is here, where we'll uncover common contracting pitfalls and other crucial topics that plan sponsors should be mindful of when evaluating their PBM services agreement. This no-cost educational opportunity will provide valuable insight to help you make informed decisions - See the link below to learn more: #PBM #PharmacyBenefits

Per the attached article "Buck, A Gallagher Company found that prescription drugs will be especially costly in the coming year, with health insurers reporting a weighted average prescription drug trend of 9.8 percent—up from 9.3 percent from the prior survey. Increases in specialty drug utilization and “new drugs on the market” were cited as contributing to the increase, Buck, A Gallagher Company found. Many industry experts have pointed to the rise of interest and demand for GLP-1 drugs as a weight loss aid as a contributor to growing health care costs." #procurementleaders if you are a member of OMNIA Partners today let's discuss!! #YourAllyinthePurchasingProcess #ABetterWaytoBuy #SHRM #healthcare #prescriptiondrugcosts #SHRM #contractutilization #omniapartners #procurementconsulting https://lnkd.in/eKBP7cKC

Per the attached article "Buck found that prescription drugs will be especially costly in the coming year, with health insurers reporting a weighted average prescription drug trend of 9.8 percent—up from 9.3 percent from the prior survey. Increases in specialty drug utilization and “new drugs on the market” were cited as contributing to the increase, Buck found. Many industry experts have pointed to the rise of interest and demand for GLP-1 drugs as a weight loss aid as a contributor to growing health care costs." It is not too early to get ahead of your 2025 #PBM renewal. What levers will you pull? Ask your #procurementleaders if you are a member of OMNIA Partners today! #YourAllyinthePurchasingProcess #ABetterWaytoBuy

Is this lawsuit a big deal for Trustees & administrators of an ERISA plan? A Johnson & Johnson employee filed a class action lawsuit on February 5, 2024, establishing the 1st its’ kind in the benefits community. Alleging breach of #fiduciary duty by the company, the lawsuit exposes alarming markups in prescription drug costs within the company’s health plan. Some of these markups are as high as a 6,392% markup for a prostate cancer drug, a 9,592% markup for a leukemia drug, and a 12,403% markup for an MS drug. What can be done is that #Trustees understand the plan benefit design and know all aspects of vendor reasonable compensation. EPCouncil.org can assist independently and educate everyone involved in or with an #ERISA plan that can help address compliance to avoid lawsuit risk.   Despite hiring top benefit consultants and PBMs, serious mismanagement occurred, raising serious concerns about benefit management practices. To learn more on pharmacy related and integrated benefits management through #ebooks at https://lnkd.in/gsBXjG6J   More insights available in a Webinar titled: J&J ERISA Employee Benefit Lawsuit. Am I at Risk? ·      https://lnkd.in/eUVuRWS8

Did you know 43% of employees affirm that their existing benefits packages are a key factor in retaining their current positions? Discover strategies your small business can use to enhance your employee benefits packages, fostering employee retention without straining your budget. https://bit.ly/3zEYRs6

Get ready for Pharmacy 101! 📝💊 With this free #webinar, dive into the world of Pharmacy Benefit Managers with CBIZ experts and learn the significant impact that contractual nuances have on the health of your population and the costs of your plan. #pharmacy #pharmacybenefits #HealthcareSolutions

Get ready for Pharmacy 101! 📝💊 With this free #webinar, dive into the world of Pharmacy Benefit Managers with CBIZ experts and learn the significant impact that contractual nuances have on the health of your population and the costs of your plan. #pharmacy #pharmacybenefits #HealthcareSolutions

The NHS has now made available it's priorities and operational planning guidance for 24/25 (link below). Having briefly read the document (I'll post again when I've had more time) three areas are of particular interest to me from a field market access perspective: 1 - The refinement of referral processes with a push towards more precise referrals through 'advice and guidance', therefore introducing interventions sooner. 2 - Commitment to continuing to address health inequalities through various programmes. 3 - ICBs to develop plans to meet the 2.2% efficiency target whilst raising productivity to meet the objectives set in the document I'd recommend anyone working in the UK life sciences give the document a read. It'd be great to discuss it more and hear your thoughts. https://lnkd.in/eF3ztZAA #marketaccess #pharmaceuticals #medtech #nhs #medicalsales

For all the employers out there who are still undecided or want to revisit their weight loss drug coverage strategy, the Benefit Leader's Guide to Weight Loss Drug Coverage eBook is for you! Employers have LOTS of options before deciding to absorb the expenses for covering these drugs, and this resource will help you discover alternatives and best practices when making GLP-1 drug coverage decisions. Download today: https://ow.ly/vmI950RILjU