MADISON, Wis.–(COMMERCIAL WIRE)–Navitus Health Solutions, an industry-shattering pharmacy benefit manager (PBM) committed to bringing humanity to pharmacy benefit management, released its 2021 Annual Medication Trends Report demonstrating cost savings from pharmacy benefits for its customers and better affordability for members. The new Navitus report shows that new customers who switched to Navitus from another PBM in 2021 saved an average of 16%, with additional data on existing customers that savings continued in years two to six after implementation.
“At Navitus, we exist to help people access important drug therapies at affordable costs so they can live their lives to the fullest,” said Brent Eberle, RPh, MBA, Senior Vice President and Chief Pharmacy Officer. “By partnering and aligning with our customers to help them save on pharmacy benefit costs and improve health outcomes, we work toward our mission to help humanity.”
Rising drug costs are a top concern for most Americans. In fact, 30% of adults have not taken their medications as prescribed at least once in the past year due to cost, putting their health and well-being at risk.1 Navitus’ lowest net cost and 100% pass-through philosophy and clinical care programs are designed to achieve greater medication affordability and compliance for members. According to the 2021 Annual Drug Trends Report, commercial plans achieved a net total cost per member per month (PMPM) of $84.37 with Navitus, a modest 1.5% year-over-year increase.two
“Over the past five years, new customers have achieved first-year savings ranging from 16% to 25%. Every year, we bring more value to plans and their members, and do what’s right for health care consumers,” said Tom Pabich, senior vice president of business development and client services. “They are also pleased with the excellent level of customer service, as reflected in our Net Promoter Score superstar rating again this year.”
Highlights of the report reveal:
Exceptional Service: Navitus customer Net Promoter Score (NPS) increased to 76 from 72 in the previous year.
Stellar Implementation – Navitus customers reported that they were 100% satisfied after implementation.3
Expenditure on drugs well controlled:
The data set revealed a non-specialty drug trend of -0.9% in 2021, reflecting how reduced unit cost offset increased utilization.
Lower specialty unit cost, maintaining the specialty trend at 4.3%, the lowest in recent years.
To access the full Navitus Drug Trends Report 2021, please download a copy here.
Navitus Health Solutions, owned by SSM Health and Costco Wholesale Corporation, is an industry disruptive alternative to traditional pharmacy benefit management (PBM) models. As such, Navitus is committed to removing costs from the drug supply chain, not changing them, to make prescriptions more affordable for 8.5 million consumers through nearly 1,000 plan sponsors (i.e. employers, plans health, unions, governments, etc.). By returning 100% of rebates and discounts received and implementing a lowest net cost philosophy, Navitus helps reduce costs and improve member health. For more information about Navitus, call 877.571.7500 or visit www.navitus.com. Follow Navitus on Twitter Y LinkedIn to stay up-to-date on the latest pharmacy benefit news, information and expert analysis.
1 Public opinion about prescription drugs and their prices. Kaiser Family Foundation. Published April 5, 2022. Retrieved May 4, 2022. https://www.kff.org/health-costs/poll-finding/public-opinion-on-prescription-drugs-and-their-prices/
two Total Net Cost PMPM was calculated from Navitus business customers, including employers of all types (retail, manufacturing, government, school districts) and commercial health plans, and is comprised of different and varied health populations.
3 Navitus 2021 Implementation Satisfaction Survey.