FROM THE TEAM
Using Existing Plan Information to Review the Current Experience and Plan for the Future
It is hard to believe that we are already well into September. This is a busy time of the year from many plans that are busy preparing for renewals or are in the midst of the process.
From a review and planning perspective, the only set of data as underutilized in the world of benefit plan management as transactional-level drug claims data is the set of aggregate reports made available to plan sponsors at renewal time every year. On the surface, Top 50 or Top 100 Drugs listings, top therapeutic category listings, and aggregate level demographic reporting may not appear to contain much information that is immediately actionable, but the reality might surprise you.
Generally speaking, this aggregate level information can be used to assess how a given group is performing relative to other plans, what aspects of their current plan design are performing well, where there are current issues within the existing plan experience, and what some possible next steps could involve to address these issues. This aggregate level data can assist in planning prior to a plan renewal, or can used during the renewal process to begin planning for the following benefit period.
Between the aggregate level data that plans receive every year from their carrier and/or claims processor and the access plan sponsors have to their own plan-specific, blinded, transactional-level drug claims data, there is a wealth of information for plans at their fingertips to complete a meaningful review of their plan and/or start planning for the next period.
To pass along any comments on Cubic Health Monthly, or to see back issues of our publication, please visit our website at http://www.cubichealth.ca
Sincerely,
Mike Sullivan
President
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Fall 2008
Issue No. 30 |
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QUICK FACTS:
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250: Number of specialty drugs on the U.S. market
1,000: Number of specialty drugs in development
24%: Proportion of total drug plan spending in U.S. attributed to specialty drugs, 2007
44%: Est. proportion of total plan spending for specialty drugs, 2030
34.2%: Proportion of total drug plan growth in U.S. attributed to specialty drugs, 2007
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