Protect Your Medical Loss Ratio!
Excelsior Solutions helps you manage one of the largest hidden costs of medical care!
Specialty medications—which are administered by a physician in an outpatient setting—so-called “medical pharmacy” are one of the largest hidden costs of modern medicine. Because the cost of these very expensive therapies is often embedded within the claim, it’s difficult for payers to know exactly for what they are paying, let alone the necessity, appropriateness or accuracy of medical pharmacy claims costs.
According to a recent Medco study: specialty drug spending rose at a rate of 15.8% in 2008, up from 12.4% in 2007, and represented 12.8% of total pharmacy spending, up from 11.4% the year before
Through specialty drug management auditing, Excelsior Solutions can help you identify the hidden costs of medical pharmacy. We then identify opportunities for substantial savings through innovative strategies and effective negotiation.
For example, Excelsior can install a system that alerts health plans of medical pharmacy procedures as they occur, instead of waiting 1-2 months for the report. This allows health plans to more effectively manage the cost and care needed for their patients.
This is only one of the ways in which Excelsior Solutions can provide measurable cost savings. We also offer expertise in:
Discover how Excelsior Solutions can deliver SIGNIFICANT AND MEASURABLE COST SAVINGS for your organization. Contact us today for a FREE, confidential and no-obligation consultation.