You will continue to work with your current PBM to address non-chronic medications such as antibiotics. In addition, HaloScrips does not sell controlled substances such as pain medications, so you will continue to work with your PBM for these meds as well.
HaloScrips’s initial data analysis will result in a clear picture of the employee group that makes economic sense. For example, the group could include those employees taking 2 or more medications. In another data set, it could be those taking 3 or more. The cutoff line is determined by a number of factors, such as types of medications and prescription distribution within the group.
In the traditional model, the price of a drug depends on the pharmacy where it is purchased, the manufacturer of the drug, and a number of other factors. As a pharmacy, HaloScrips provides a single source and a single price for each drug. Based on an analysis of your company’s previous 6 month spend, HaloScrips can show you exactly what you will spend for the same drugs on a quarterly basis. HaloScrips takes the variance out of drug pricing.
HaloScrips takes your heaviest users of chronic medications (usually about 50% of pharmacy spend) and provides you their drugs at true acquisition cost. This results in substantial savings to both you and your employees.
A recent poll showed that “more than 40% of Americans are struggling to pay for the cost of their medications – even though nearly all of them have some kind of health insurance coverage.” The employees selected to participate in the HaloScrips plan are those taking the most medications, with the accompanying financial burden. Removing co-pays ensures medication compliance and increases employee satisfaction.
The first step in working with HaloScrips is obtaining historical prescription information for data analysis. In most cases, six months of history provides enough data for analysis and savings reporting.