TRT Testosterone Replacement Therapy
TRT Testosterone Replacement Therapy. Should you take TRT right now? What does Testosterone realistically do to your body? Is it safe? These are all questions you may be asking as your curious with this hormone therapy. KC is an expert in testosterone therapy and as helped a ton of people gain back their health. You can always get it tested to just see where your levels are at. About Well Life ABQ: Well Life ABQ is your simple way to Solve your Healthcare Costs! This is from their website that you can go to here Are the costs of employee healthcare making you sick? We can help you fight back! Schedule a free business review. When we understand your healthcare needs, we can develop the best plan customized to your needs. For $75 per month plus tax, companies cover 80-90% of their employee’s health needs. PROBLEM
Prescription drug benefit costs has increased 1150% since 1987 Since employers are the main providers of health insurance benefits, they are bearing the brunt of these costs. Is there any other line item in a company budget, that has increased this much? Patient costs have also increased 182% since 1987 Both employees and employers bear the burden of these huge cost increases. (CEOs guide) All companies that provide insurance benefits, run a health care business. It is likely the 2nd biggest operating cost after payroll. And if you don’t provide benefits, you have a tougher time recruiting top talent.
As with all complex problems, there is not a single cause.
There are two main drivers of increasing prescription drug prices.
Pharmaceutical companies (most people know this) According to RealClearHealth.com “PBMS fail to pass $120billion back to consumers and retain another $30billion in additional out of pocket costs. Pharmacy Benefit Managers – this is the real dragon
Brand name drug prices are possibly justified Research and development has a wide range, but is around $985million Average cost of FDA approval for a new drug is $19million alone.
History Originally processed prescription claims for a small administrative fee. Great system at first…then these middlemen began to exert more and more control. They developed formularies and controlled which drugs were “allowed” to be prescribed Began to concentrate their power. Larger PBMs gobbled up smaller ones. Some even merged with actual insurance companies or drugstore chains ie CVS Caremark. CVS Health just acquired Aetna. And Express Scripts was acquired by Cigna. OptumRx is affiliated with United Healthcare…and Im sure many of has noticed the DaVita clinics signs now say Optum. So now they are infiltrating the frontlines of healthcare.
This is a disaster. It reduces competition and limits choice. Three major PBMs control 76% of the prescription drug benefit transactions in the US – ONLY THREE The largest PBM had a net increase of 70% in net profit in two years! Rebates. “kickbacks” Legal extortion – They negotiate with the pharma company to place their drug on a formulary, they demand a rebate. Pharma has to PAY TO PLAY or their drug doesn’t get placed on the formular. PBMs even take this farther and say not only will we not carry your drug, we won’t place ANY of your drugs on the formulary…even your generics. These PBMs pocket most and sometimes all of the rebate.
EMPLOYERS BEAR THE BRUNT OF THIS COSTLY GAME 25% of the drug cost is attributable to rebates – this means we are paying 25% more than we should I see this 25% pretty regularly in practice. For about 80% of the prescriptions we write, we could save a company about 25%. More about this in solutions. As a prescriber, I have had MANY scenarios where the more expensive drug is the one on the formulary and the cheaper option was not “covered”. I always thought “that doesn’t make sense”. Now that I have seen the light, I have no doubt that a rebate was the reason.
Fees – They of course also collect fees for their so-called “services Spread – The PBM will reimburse the pharmacy a lower price and charge the plan sponsor (YOUR COMPANY a higher price). The company that is footing the bill, has no idea. There’s more – specialty drugs are filled by a specialty pharmacy that is owned by the PBM and the consumer is forced to only use this pharmacy. So the PBM STILL wins. The consumer and the company lose. HOW SOLUTIONS
Awareness Employers must demand price transparency and a flat fee systems that eliminates hidden and conflicting/perverse incentives Link up with a Direct Primary Care provider like Well Life ABQ. In many circumstances we can dispense at a lower cost. And when we can’t, we are partnered with a pharmacy that can still direct bill and skip the insurance claim. This allows us to choose the most appropriate and economical option. STORIES Several years ago, one new member signed up after his cardiologist referred him to us.
This is the ABQ Business Podcast with your host Jason Rigby. Each week we interview leading business leaders to inspire the vision and the spirit that is in every entrepreneur. We discuss strengths, weakness, strategies, systems and the problems we can all solve together to fulfill a shared vision of a new future for Small Business.
TRT Testosterone Replacement Therapy
Please go to www.abqpodcast.com where you can get show notes, resources ,and links to everything we talked about today to help you navigate your journey as an entrepreneur and business owner in ABQ. Follow me on Instagram at: @abqjasonrigby