Summary
Earlier this year, the University of Michigan terminated its relationship with Caremark Rx after the university decided it could save more money by dumping the pharmacy benefit manager and managing its own prescription drug spending. The university expects to save $2.5 million by handling the estimated $60 million it will spend this year on prescription drugs. Though it may seem like a function beyond the expertise of most benefits administrators, some consultants contend that cutting out the middleman is possible for anyone looking to contribute to a company's bottom line by reducing one of the fastest-growing costs in health care spending: prescription drugs.
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Extract
Some Employers Look to Break the Pbm Habit
EARLIER THIS YEAR, the University of Michigan terminated its relationship with Caremark Rx after the university decided it could save more money by dumping the pharmacy benefit manager and managing its own prescription drug spending.
The university expects...See the full content of this document
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