Indiana employers are invited to join Apex Benefits and global pharmaceutical and health industry leaders for “A Prescription for Managing the Impact of High Cost Medications” on November 13, 2019. The free program will be held from 11 a.m. to 2 p.m. at the Biltwell Event Center, 950 S. White River Parkway W. Dr., Indianapolis and is part of the Apex Employers’ Survival Guide event series offering practical tips for reducing the bottom-line impact of high-cost insurance claims.
For 85 percent of employers, pharmacy pricing is their predominant concern going into 2020, according to a study by the National Business Group on Health (NBGH). The Apex program is intended to help address this concern through a discussion of factors impacting the cost of medications across the pharmaceutical supply chain from drug manufacturers, health insurers and pharmacy benefit management companies to the employers and their employees.
Featured speakers include Enrique Conterno, Senior Vice President of Diabetes Care at Eli Lilly and Company and President of LillyUSA; Steve Miller, M.D., Chief Clinical Officer of Cigna including the health insurer’s Express Scripts business unit; Joseph Byers, Vice President of Business Development for Swiss Re Corporate Solutions; and Jim Harenberg, Apex Benefits Vice President of Strategic Solutions and the ApexRx Pharmacy Benefits Consulting Program. The event will be hosted by Apex Benefits General Counsel and Vice President of External Affairs Todd Rokita.
“Whether you work in Human Resources and have direct responsibility for managing benefits or you own or help manage a business, if you feel the burden of providing the best health benefits to employees at the most affordable costs, then you should attend this program,” says Rokita.
Attendees will be part of the discussion regarding solutions to manage costs of today’s high-cost pharmacy claims, as well as important considerations for managing future financial risks.
“These cost concerns will persist as large numbers of high-cost specialty medications and gene therapies come to market to treat cancer and debilitating chronic illnesses such as multiple sclerosis, rheumatoid arthritis, diabetes and heart disease,” Harenberg says.
It’s anticipated that 30 to 35 high-cost specialty medications will be approved by the U.S. Federal Drug Administration (FDA) each year for the next several years. With some of these drugs expected to cost hundreds of thousands of dollars per year and potentially millions of dollars per treatment, employer education and thoughtful planning are important.
“Just one unexpected diagnosis resulting in a high-cost drug therapy can wreak absolute havoc on an employer’s finances, not to mention its employee’s financial and physical health,” Harenberg states. “Employers must consider potential risk management options before these disruptive expenses occur.”
The event is sponsored by Hoaglin Catering, in partnership with Axiom Human Resource Solutions, ConsortHR and Indy SHRM, with support from Markey’s Rental and Staging.
For more information and to register for the event, visit http://bit.ly/highcostrxevent. While the event is free, pre-registration is required before November 5.
About Apex Benefits
Since 2003, Apex Benefits has provided employers with benefits strategies that have lowered healthcare and pharmacy benefits costs and improved the long-term health of their employees. Apex strategists specialize in data-driven benefits design leveraging the organization’s industry-disruptive solutions for predictive analytics, wellness and population health management, and medical/pharmacy cost containment. The independent agency serves all areas of employee benefits including medical, wellness, pharmacy, disability, life and retirement solutions and provides human resource and compensation consulting to employers. For more information, visit apexbg.com.