Pharmaceutical Strategies Group Publishes Annual Drug Benefit Design Report for 2024
DALLAS--Pharmaceutical Strategies Group (“PSG”), an EPIC company, released its annual Trends in Drug Benefit Design Report, sponsored by Prescryptive Health, detailing the trends and leading strategies for traditional drug benefits. The research provides valuable insights about drug benefit design and management.
“This research highlights the complexities presented by the rapid acceleration of GLP-1 drugs”
Management of the pharmacy benefit continues to be a critical aspect of U.S. healthcare, and this report provides insights on how healthcare payers evolve their pharmacy benefit strategies over time and respond to market events like the rise of GLP-1s. In this environment, decisions about program structure, cost sharing, drug access and pricing, formulary design and management, and clinical and trend management are more numerous and complicated than ever.
“The pharmaceutical industry is highly dynamic and at times overly convoluted. Healthcare payers need insights in terms of how organizations like theirs are responding to these constantly evolving market trends,” said Michael Lonergan, President of PSG. “I'm pleased to once again provide an independent and unbiased view for both healthcare payers and the broader industry of the perspectives of health plans, employers, and other healthcare payers.”
The report includes these key findings:
A major focus of the report is GLP-1 drugs for type 2 diabetes and obesity. "This research highlights the complexities presented by the rapid acceleration of GLP-1 drugs,” said Morgan Lee, PhD, MPH, CPH, Senior Director, Research and Strategy at PSG, who was the lead researcher on the report. “From coverage decisions to concerns about affordability and off-label use to cost containment strategies, plans have more to consider than ever before. As GLP-1s are approved for additional indications, this will continue to grow."
Important findings around the growth of GLP-1 drugs include:
“As a healthcare technology company, we believe that empowering patients to make informed choices is critical to addressing some of the most difficult issues facing the industry today,” said Chris Blackley, co-founder and CEO of Prescryptive Health. “We are energized to see results that indicate that employers and health plans are ready to drive patient-focused change and are open to adopting new approaches to improve medication access, affordability, and value.”
Download the Trends in Benefits Design Report and register for the webinar reviewing the findings here.
About the 2024 Trends in Drug Benefit Design Report
The Trends in Drug Benefit Design Report provides in-depth insights into traditional (non-specialty) drug benefit trends and strategies and focuses on drug benefit design for the 2024 benefit year among employers, union/Taft-Hartley, and health plan respondents. The survey sample informing this report included 223 benefits leaders. Issues specific to specialty drugs are included in a separate report — Trends in Specialty Drug Benefits. This report, as well as prior annual reports conducted by PSG, can be found at https://www.psgconsults.com/research.
About Pharmaceutical Strategies Group (PSG)
Pharmaceutical Strategies Group, an EPIC company, relentlessly advocates for clients as they navigate complex and ever-changing drug cost management challenges. PSG is an independent consultant, empowering healthcare payers to manage their pharmacy program better. As a strategic partner, PSG helps clients by providing industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year. www.psgconsults.com
About Prescryptive Health
Prescryptive Health is a healthcare technology company rewriting the script for the US pharmaceutical market. We are building a more equitable and transparent ecosystem that connects patients, prescribers, pharmacies, payers, and pharma manufacturers, empowering consumers to take ownership of their prescriptions. Our solutions optimize health outcomes while enabling better patient engagement through user-friendly technology. Find out more at Prescryptive.com or on LinkedIn. #letsrewritethescript