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 KnowledgeBenefits.org and follow us on Twitter and LinkedIn.
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