May 17, 2018 – Scripta partner shares strategies for health care cost containment at the World Health Care Congress in Washington, D.C.
With specialty drug and other pharmacy costs soaring, controlling pharmacy benefits spending was the topic on everyone’s minds at the World Health Care Congress this year. A session entitled Your Health Plan Has a Drug Problem generated the most buzz. As Eric Levin of Scripta said, “The savings are in the data, and innovative companies like Scripta are taking action.”
The massive annual conference began with a keynote address by famed investor John Doerr of Kliener Perkins. He sent a clear message: the path to fixing our expensive, overly-complex health care system starts with, “liberating the data and letting the innovators take care of the rest.”
At Scripta, we know the savings are in the data, but we also know that it takes a great deal of expertise to mine the data put it to work. Indeed, at a conference where “best practices” are well understood by most, with experts overflowing the halls, the real question became how to make sure best practices yield results—both in the human dimension and at the bottom line.
As Tom McGuinness, Chief Strategy and Commercial Officer for GE Healthcare noted, at Massachusetts General Hospital, “3 petabytes of data are collected and stored annually, but only 3% is actually used… Big data overwhelms typical analytics.” And while AI may soon help increase the uses for all those bits and bytes, for now, innovators like Scripta are driving change in the health care analytics space.
Scripta is bringing discipline to one of the most perplexing components of most employers’ benefits spend—pharmacy. Mr. Levin put it this way, “If an employee forgets to include a receipt for parking, their expense report is immediately rejected… meanwhile, PBMs send us bills that are hundreds of pages long, after a cursory glance at some pie charts and bar graphs… we just pay in full!” Woud you handle any other expense in this way?
At Scripta, we think it’s time to take action to control skyrocketing prescription drug costs. Our software makes use of all the data. Every employee. Every transaction. And we make it easy for benefits advisors and their clients save millions on pharmacy spending. Don’t believe us? Just give us a try. It is free to get started.