Drugs and PBMs
What is this course about?
The healthcare market, like all markets, comprises different players that can be categorized as buyers and sellers. This course, part of Knowledge Benefits’ series, “Understanding Healthcare Markets,” focuses on drugs and pharmacy benefits managers as major commercial sellers by describing their roles, examining their business model and compensation strategies, and identifying factors that drive spending. Purchasers must understand how various players in the healthcare market behave in order to take control of their spending.
Pharmaceuticals are an essential component of healthcare. Understanding the complicated process of purchasing pharmaceuticals is essential for ensuring access to the most effective drugs for your population and to reign in rising costs. Myriad middlemen between the physician and patient, each with their own incentive, further complicate employers’ fiduciary responsibility to their employees. This course describes the role Drugs and Pharmacy Benefits Managers play in employer health purchasing and administration. We hope it empowers you to begin the journey to be more proactive stewards of your dollars by choosing high-value care and services.
The other courses in the series examine financial trends and behaviors of healthcare’s major players:
Who is it for?
Benefits administrators on the front lines of employer sponsored health insurance
HR professionals interested in improving benefit purchasing
Purchasing managers interested in improving benefit purchasing
Chief Human Resources Officers responsible for purchasing healthcare benefits
Chief Financial Officers responsible for managing the bottom line
Chief Executive Officers concerned about healthcare costs eroding the bottom line
What will I learn to do?
- Examine the trends in pharmaceutical industry financial performance and cost drivers
- Compare pharmaceutical use and costs in US with other developed countries.
- Assess the impact of the pharmacy sector on your employees and learn strategies to help them