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TPG Healthcare Consulting LLC - Helping you to get value out of your pharmacy benefit expenditures …
The cost of health care and the pharmacy benefit is a concern for most members, employers, and health plans alike.
U.S. health care expenditures totaled over $2.1 trillion in 2006. That is nearly $6 billion per day in expenditures. Prescription drug spend represents $275 billion or over 12% of total health care expenditures.1
Advances in healthcare science and genetic engineering have brought forward many new biotechnology and specialty drugs providing treatments where previously no treatment options were available. However, the cost of the specialty drug segment is growing at a rate three times that of traditional, nonspecialty drugs. In 2006, specialty drugs expenditures represented 20% of total drug spend. It is expected to grow to 26% by the year 2010.2
Creating the right balance of quality, cost, and access is a critical business need for your pharmacy benefit. Designing a high performing pharmacy benefit and assuring that your pharmacy benefit management (PBM) vendor is aligned with your goals is the top priority for the TPG Healthcare Consulting LLC consulting team. We bring years of experience in the PBM, health plan, retail pharmacy, and pharmaceutical industry to work with you to design and implement a customized plan to achieve your pharmacy benefit goals and objectives.
Sources:
1. Centers for Medicare and Medicaid Services (CMS), Office of Actuary, February 2007 update.
2. Express Scripts 2006 Drug Trend Report, April 2007.
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