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THE PSYN ADVANTAGE

LEVERAGING OVER 30 YEARS OF HEALTH INSURANCE EXPERTISE

With over 30 years of contract negotiation, medication compliance
and clinical experience, we have the knowledge and expertise
necessary to accelerate your team’s healthcare goals.

Pharmacy Matters

DRUG PRICE INFLATION

PRESCRIPTION DRUG PRICES INCREASED
FASTER THAN INFLATION FOR HALF OF ALL
DRUGS COVERED BY MEDICARE

According to a recent study conducted by the Kaiser Family Foundation, half of all Medicare Part D drug price increases outpaced the US inflation rate in 2021. What’s more worrisome is that the prices of 23 of the top 25 most commonly used drugs in the Medicare Part D program increased at a rate of approximately 7 to 8 percent. Although this report speaks to the Medicare population, the medications that are rising at this alarming rate are the same drugs most commonly used by people in today’s workforce and being paid mostly by commercial employers. Read more.

CONTRACT TERM TIP OF THE MONTH

DOES YOUR PBM AND HEALTH MANAGE DISCOUNTS OR DRUG SPEND

Pharmacy Benefit Managers tout their ability to successfully manage pharmacy cost and
utilization. But as drug prices continue to rise faster than our economy’s inflation rate,
are you confident that their management strategies are truly effective? Or, are they just
guaranteeing discounts on Average Wholesale Prices (AWP) that are rising an average of
8 percent annually? Contact us to learn more about ways to better manage your
pharmacy spend at: [email protected].