In the battle against soaring healthcare costs, generic prescriptions can make a real impact, but plan sponsors and patients need help getting over perception barriers. These pharmaceutical game-changers offer identical clinical benefits to their brand-name counterparts — while significantly slashing cost, presenting a vital opportunity for savings.
RxBenefits CEO Wendy Barnes sheds light on this underutilized strategy, emphasizing the urgent need for patient education and dispelling misconceptions that hinder the adoption of generics. With generics accounting for 87% of pharmacy claims but only 13% of the overall pharmacy spend in 2020, it becomes evident that promoting their usage could have an enormous impact.
Collaborative efforts among policymakers, plan administrators, and healthcare providers are essential to revolutionizing the prescription landscape. Barnes advocates for supporting doctors in prescribing cost-effective medications, advocating for timely generic drug approvals, and empowering patients to make informed decisions.
By unlocking the untapped potential of generics, a transformative shift towards accessible and cost-effective treatments can be realized. Discover more about this game-changing approach in Wendy Barnes’ article on BenefitsPRO.