According to a Wall Street Journal review of corporate filings and conference-call transcripts, ‘More than two-thirds of the 20 largest pharmaceutical companies said price increases boosted sales of some or most of their biggest products in the first quarter’1. While MedTrakRx doesn’t have control over manufacturers, we constantly look for ways to protect our clients and their members from drug price increases. One of the ways we do this is through MedTrakRx’s Trak & Shield which includes:
Inflation Watch – MedTrakRx has analytics in place that review drug prices regularly. Drugs with substantial increases are flagged and reviewed by our Clinical Care Center to determine to determine if additional management strategies are needed (i.e. PA criteria, step therapy, etc.). By adding some of these additional controls, MedTrakRx is able to control costs and make sure the right patients gets the right treatment at the right time.
Non-FDA approved medication list. Surprisingly, there are instances where non-FDA approved medications are included in the national databases used by PBMs to process claims. MedTrakRx continually reviews new NDCs to ensure all medications are approved by the FDA. Those that have not been through extensive FDA approval processes are routinely excluded from coverage through MedTrakRx. This diligence has resulted in MedTrakRx clients avoiding millions of dollars in unnecessary costs.
These are just a few of the programs under our Trak & Shield program that protect our clients from unnecessarily high drug price increases.
To find out more, call 800-771-4648.
Back to all Industry Insights