Andrew Munroe, Senior Vice President of Operations, Pharma and Payor Partners at NexgenRx Inc., discusses the changing landscape in pharmaceutical service (PSPs), where manufacturers are seeking cost management strategies, especially with high-cost drugs.

✨ ✨ ✨ ✨ ✨ ✨ ✨
🤳 Watch the full video - https://lnkd.in/dgzsySii
✨ ✨ ✨ ✨ ✨ ✨ ✨

Highlights
🔄 Manufacturers are looking for ways to reduce costs in pharmaceutical programs, which may impact consumer choices and medication availability.

💰 Cost management strategies are more challenging for specialty, rare disease, and orphan drugs due to high R&D and production costs.

💼 Plan sponsors are seeking ways to mitigate increasing health plan costs while still providing value to their employees.

🏥 TPAs and TPPs are helping plan sponsors navigate funding options, including provincial programs, benevolent programs, and PSPs to offset costs.

💊 The use of coupon discount programs can help private payers pay less to maintain a health plan.

#PSPs #pharmaservice #TPA #TPP #costmanagement #plansponsors #coupondiscounts
#underwriting #productdevelopment #insurance industry #TPA #thirdpartyadministrator #thirdpartyprovider #claimsadjudication #healthcareadministration #Healthcareadjudication