On demand pro­gram offers insight for HR/benefit exec­u­tives pur­chas­ing drug ben­e­fits

DENVER – Oct. x, 2018 – Employ­ers con­tin­ue to face increas­ing costs for pre­scrip­tion drugs at high­er rates than oth­er health costs and mark-ups by mid­dle­men, includ­ing phar­ma­cy ben­e­fit man­agers, aver­age 15%. To help ben­e­fit exec­u­tives under­stand these mar­ket dynam­ics and nav­i­gate the opaque sys­tem of mid­dle­men and mark-ups Knowl­edge Ben­e­fits devel­oped a new, on demand course called “There’s A Pill for That.”

It’s time that health­care ben­e­fits pro­fes­sion­als apply fidu­cia­ry rig­or on behalf of employ­ees and their company’s bot­tom line,” said Don­na Mar­shall, CEO of Knowl­edge Ben­e­fits. “Employ­ers and oth­er pur­chasers must break into the black box of phar­ma­ceu­ti­cal pric­ing to use their sig­nif­i­cant pur­chas­ing pow­er.”

With the addi­tion of this course on phar­ma­ceu­ti­cal pur­chas­ing, Knowl­edge Ben­e­fits now offers a full suite of on-demand cours­es that put health­care into the larg­er mar­ket con­text. Cours­es are easy to access and offer a fun, per­son­al­ized learn­ing plat­form with the Soci­ety for Human Resource Man­age­ment (SHRM) pro­fes­sion­al devel­op­ment cred­its (PDC). This course com­pletes the fourth mod­ule in the series Under­stand­ing Health­care Mar­kets along­side cours­es on Employ­ers and Oth­er Pur­chasers, Hos­pi­tals and Physi­cians and Health Plans.

Knowl­edge Ben­e­fits pro­vides tools and tac­tics for health­care ben­e­fits pro­fes­sion­al to move beyond know­ing com­pli­ance and reg­u­la­to­ry require­ments towards a more strate­gic approach to pur­chas­ing. “Many health­care ben­e­fits admin­is­tra­tors learn on the job and rely on co-work­ers and con­sul­tants instead of direct­ly chal­leng­ing the sta­tus quo in the mar­ket place,” added Mar­shall.

Yet, health­care ben­e­fits cost com­pa­nies an aver­age of 8% of pay­roll costs. Savvy pur­chas­ing keeps employ­ers from being out­gunned by mid­dle­men accord­ing to a recent arti­cle by Dave Chase, cre­ator of the Health Roset­ta and a health­care advo­cate.

About Knowl­edge Ben­e­fits

Start­ed in 2016 under the aus­pices of a non-prof­it, employ­er-led coali­tion, Knowl­edge Ben­e­fits edu­cates employ­ers and oth­er pur­chasers about the health­care indus­try and equips them to buy high qual­i­ty, afford­able health­care. Knowl­edge Ben­e­fits part­ners with nation­al experts from orga­ni­za­tions includ­ing The Leapfrog Group and Quizzi­fy to build online cours­es that are fact-based and SHRM accred­it­ed. Cours­es chal­lenge ben­e­fit exec­u­tives to influ­ence health­care costs and employ­ee health through a pro­pri­etary learn­ing sys­tem that pro­motes reten­tion and is geared to adult learn­ers. To access cours­es and learn more vis­it Knowl​edgeBen​e​fits​.org and fol­low us on Twit­ter and LinkedIn.

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