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Rising pharmacy rates fuel spike in healthcare spending

Posted by Julio Iturriaga on Jan 5, 2017 11:48:00 AM

Businesses will spend six percent more on healthcare benefits in 2017 than they did this year, according to an annual survey by the National Business Group on Health. To the casual observer, this might appear to be good news, since the upcoming price hike is no greater than last year's. However, despite this relatively steady growth rate, healthcare costs continue to climb faster than wages on average, suggesting consumers will be forced to put even more of their paychecks toward medicine. 

Let us s​how you how you can save 15-30% on your company's total medical  costs. 

"While employers have been able to keep increases in checkfor the past few years, costs are still running at more than twice the rate of inflation and general wage increases, thereby threatening affordability," said Brian Marcotte, president and CEO of NBGH in a press release. "These cost increases, while stable, are both unsustainable and unacceptable."

Nearly one-third of the 133 surveyed employers indicated that specialty pharmacy costs were the number one driver behind this spike in spending - up from just 6 percent in 2014. Rounding out the list of the three biggest culprits were high cost claimants and specific diseases and conditions. 

Lower Costs, Higher Quality - Pharmacy Quality Improvement Program

Posted by Julio Iturriaga on Aug 20, 2015 10:59:00 AM

The high cost of prescription medications is a tough hurdle that can negatively impact patients' quality of life.  This underscores the importance of giving employees access to cost-effective pharmacy and prescription drug programs. KelseyCare's Pharmacy Quality Improvement Program, gives members the tools needed to navigate today's fluctuating medical sphere with confidence.

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At Kelsey-Seybold, we understand different businesses have different needs. We deliver long-term health benefits solutions for Houston employers through several leading partners. Our health plans offer as its core provider network and accountable care partner – the nation’s first NCQA-accredited Accountable Care Organization, Kelsey-Seybold Clinic.

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