Employers addressed pharmacy to reduce costs and continue to push the industry toward transparency.

2024 Year in Review icon

December 11, 2024

Rising drug costs, fueled in part by increased utilization of GLP-1s and cell and gene therapies, have resulted in pharmacy consuming a growing share of employers’ health care budgets. Employers turned to a combination of deploying mature solutions and including a variety of programs to manage costs. Through our resources we provided guidance on cell and gene therapies, including the challenges, considerations and opportunities for providing cell and gene therapy coverage as well as a robust list of recommendations to support employers in crafting their benefits strategy.

Employers continued to double down on the need for greater transparency through novel pharmacy solutions and partners. Options discussed at Business Group events throughout the year ranged from engaging with multiple partners to manage pharmacy and more transparent pricing models from existing PBM partners to discount programs outside the PBM structure that offer lower out-of-pocket cost options. Business Group on Health advocated for policy changes that facilitate fair and transparent negotiations between employer plans and pharmaceutical stakeholders and enhanced access to appropriate medication and treatment for our members.

Throughout 2024, the Business Group Pharmacy Benefit Committee and the Executive Committee on Value-based Purchasing discussed new benefit and payment models for driving better transparency of pharmacy benefits.


Business Group Insights

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Prescription Drug Pricing and Pharmaceutical Supply Chain Reform Policy Position Statement Connecting Employees to Cell and Gene Therapies Outside the United States: Opportunities and Challenges Integrating Pharmacy and Primary Care: Driving Better Health & Lowering Costs Addressing Pharmacy Challenges and Opportunities Head On
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Specialty Drugs and Gene Therapies: Driving Value and Mitigating Volatility Managing GLP-1 Medications and Related Costs Cell and Gene Therapy: Key Considerations for Employers with U.S.-based Populations High-Cost Drugs Create Accessibility, Affordability Challenges

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Resource icon_right_chevron_dark Pharmacy icon_right_chevron_dark Pharmacy/Prescription Drugs icon_right_chevron_dark Transparency icon_right_chevron_dark
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