Consumerism and its impact on pharmacy benefits




Pharmacy Benefits Podcast show

Summary: In today's installment of the Pharmacy Benefits Podcast, Brian Bullock and Rob Shelley of The Burchfield Group discuss consumerism, the trend in today's health care realm that is putting more choice and more responsibility in the hands of consumers. By giving consumers more "skin in the game," employers encourage employees to take a closer look at the prescription-drug choices they make. Of all the benefits employers provide - health and medical, long-term disability, 401k - the one that's used most often is the pharmacy benefit. Consumers are heavily influenced by advertising today, and they often don't see the true costs of their prescription drug choices. The challenge is that consumers don't really understand what the drug costs really are; they're used to paying flat co-pays. These co-pays - at $10, $20, $50 - put essentially all drugs in the consumers' price range. Employers are looking for ways to create a more cost-sensitive, cost-reactive consumer. They want consumers to be more careful in choosing prescription drugs, and to consider with their doctors their options the over-the-counter and generic alternatives. As always, feel free to e-mail us your comments and questions. We'll work your comments and our responses into an upcoming show. Send an e-mail to info@burchfieldgroup.com or call 651-389-5640.