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Pharmacy Data Analytics Can Help You SAVE


March 7, 2018 – If you are trying to control health benefits costs, the best place to start is with the data — and good pharmacy data analytics can improve plan design and save money.


With the Benefits Pro Broker Expo due up next week in San Diego, we thought we’d take a moment to comment on Scott Woolridge’s excellent article, “Using Big Data to design better health care plans.” As he points out, data analytics—just the phrase itself—may make your eyes glaze over, but there’s money to be saved by finding a broker who can dig into every aspect of your benefits spend.


We know that Big Data means big opportunity. In fact, Woolridge cites a 2016 report by the National Institutes of Health that concluded, “Other industries such as astronomy, retail, search engines and politics have developed advanced data-handling capabilities to convert data into knowledge. Health care needs to follow their lead so that decisions regarding organizational objectives and goals can be met.”


Scripta here to tell you that that day has come. And while it may seem that pharmacy data analytics are most appropriate for large employers, according to Woolridge (and we agree), “Brokers also see benefits for self-funded companies with relatively small workforces.” Yes, that’s right, your employee health data could be the key to addressing cost and quality issues, and it might just save you money on your pharmacy spend.


Woolridge notes that you need a good, reliable broker if you want to delve into this area of technology and save money.


To that we would add that your broker must have access to technology that enables them to analyze large amounts of pharmacy data, not to mention alliances with experts in the complex world of prescription drugs. Given the right partnerships, however, your broker can use your employee data to reveal huge cost disparities for the same procedure (for instance, MRIs can vary from $300 to $5000) and/or devise plan designs that will better fit your employee population.


As the article points out — benefits tomorrow are about creative data analytics that improve every aspect of healthcare for your covered lives. That means every procedure… and every pharmacy transaction. (Come talk to us at Booth #225 in San Diego if you are interested in saving as much as 30% on your pharmacy spend next year).

Read Scott Woolridge’s artitcle at BenefitsPro.com:  Using Big Data to design better health care plans

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Scripta™ is neither a pharmacy nor a doctor. The benefit service does not tell you what drug to take and does not participate in the drug selection process. Only your physician can determine the medications that are right for you. These alternative medications are options for less costly drugs that physicians may prescribe in place of the medications you are taking now. Scripta has reviewed your current medications only for the purpose of identifying potential cost savings for you to consider with your physician. Scripta has not analyzed the effectiveness or other therapeutic aspects of these medication alternatives. Accordingly, this report and any other forms of communication received from Scripta are not, nor should they be interpreted as, any form of treatment, drug regimen review, or provision of counseling or consultation by a prescriber, pharmacist or pharmacy. Do not stop taking your medication, change your medication, or start taking a new medication without being directed to do so by your physician and filling the prescription under the oversight of a licensed pharmacist. The alternatives set forth above may not be equivalent to your current medication, may interact adversely with your other medications, may not be indicated in light of your other conditions, may cause different or severe side effects, or may be less effective at treating your condition. Medication prices are approximate based on information provided by your pharmacy benefits manager, insurance plans, and/or employer, and may vary from pharmacy to pharmacy. Check with your insurance plan to obtain a full list of pharmacies where your prescriptions can be filled. All information herein is HIPAA protected, treated as highly confidential, and never shared with your employer.

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