Video Summary
Roger Thorpe, president of Thorpe Benefits, and Alison Brown discuss the first of 10 questions about making benefit plans successful. They focus on the importance of analyzing drug claim data throughout the year. Alison emphasizes the need to receive drug reports at least annually, preferably more frequently if there are unexpected claims or surprises. She highlights that some claims can significantly impact costs, and there may be brand-to-brand copies of drugs that aren't necessarily more effective than the originals. Roger and Alison stress the importance of reviewing this data to make informed decisions about what can be afforded in the benefit plan, as not everything can be covered. They recommend getting into the details of drug data to uncover valuable insights and be prepared for potential exposures.
Chapters
Introduction to benefit plan analysis
Roger Thorpe introduces himself as the president of Thorpe Benefits and welcomes Alison Brown. They announce their intention to discuss 10 questions for creating a successful benefit plan, focusing on the first question in this session.
Importance of analyzing drug claim data
Roger presents the first question: ‘Are you having conversations in respect to your drug claim data throughout the year and what actions can you take?’ Alison emphasizes the importance of receiving and reviewing drug reports at least annually, if not more frequently, especially when there are unexpected claims or surprises.
Impact of drug claims on costs
Alison points out that certain claims can have a significant impact on costs. She mentions that there are brand-to-brand copies of drugs that may not be more effective than the originals, highlighting the need for careful analysis of drug data.
Balancing coverage and affordability
Alison acknowledges that while there are controls for generics and authorization for expensive drugs, it’s crucial to review the data and recognize that not everything can be afforded. She emphasizes the need to make tough decisions regarding coverage.
Importance of detailed drug data analysis
Roger and Alison conclude by stressing the importance of delving into the details of drug data. They recommend that people obtain this data and use it to make informed decisions about their benefit plans.