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Pharmacy
Consider generics when possible
With the price of pharmaceuticals continuing to rise, here are some tips to help contain the costs:
Prescribe generics when appropriate.
- Before the Food and Drug Administration (FDA) will approve a generic for distribution, it must be therapeutically equivalent to the brand-name counterpart. The medication must have the same active ingredients, strength and dosage form (tablet, liquid, injection, etc.) and must meet all FDA specifications for quality, purity and potency for the approved indications and conditions of use.
- Choosing an FDA-approved generic medication, when available, versus more expensive brand-name medications usually results in lower out-of-pocket costs for the member.
- Generics may cost 20-60% less than brand-name medications. Encouraging your patients to use generics whenever possible will help patients afford the medications required for their care.
Compare costs of various suppliers.
- Provider offices may have a primary wholesaler or distributor for medications. However, comparing costs among various suppliers will help you obtain the best value.
- Many providers join group purchasing organizations (GPO) in an effort to keep acquisition costs down. These organizations negotiate lower pricing for their members by combining the purchasing power of individual offices and hospitals. Information on GPOs should be available from your regular wholesaler or various professional organizations.
Use our preferred specialty pharmacy.
- McKesson Specialty is our preferred specialty pharmacy and offers many medications at a greater discount than other sources. Review the partial list of medications that can be obtained through McKesson Specialty.
- For these medications, McKesson Specialty will verify benefits and eligibility; assist with coordination of prior authorization where required; help arrange for delivery of the medication to the office; and bill Regence directly for the medication order. You need to bill the patient for only the administration fee.
More information about generics is available on RegenceRx. If you have questions, please contact our Pharmacy Services department at 1 (800) 643-5918.
