Study reveals many employers in need of education for specialty healthcare

Wednesday, 28 September 2011 16:00

News - Health Care Costs

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Specialty pharmaceuticals, which include medications to treat rheumatoid arthritis, multiple sclerosis, cancer and hepatitis C, make up an estimated 11 to 15 percent of total drug costs, according to a report by Horizon Blue Cross Blue Shield of New Jersey.

As a result, it may seem a bit troubling that an estimated 25 percent of U.S. employers have a severe or complete lack of understanding of specialty pharmaceuticals and their costs, according to a survey by the Midwest Business Group on Health (MBGH).

Just 53 percent of the 120 business administrators surveyed revealed a moderate understanding of these healthcare costs.

“In addition to the uncertainty and challenges that health reform and the economy are placing on employers, health plans and pharmacy benefit managers, the real driver of drug cost trend growth for employers lies in biologics and specialty pharmacy," said Cheryl Larson, MBGH vice president.

The survey also revealed that 30 percent of organizations did not track the rise in costs of specialty pharmaceuticals over the past three to five years.

Results of this study suggest that employers may want to be sure that workers are covered for specialty drugs with their employee health benefits, as well as focus on preventative measures for employee wellness to stave off chronic and hard-to-treat diseases among staff members.