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Your source of information about the Keenan Pharmacy Purchasing Coalition (KPPC).
In this and upcoming issues, we will be providing you with:
- solutions for improving pharmacy benefit performance
- items that may be of interest to your employees to pass along
- information on trends and innovations in pharmacy benefits
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Why the Structure of your Pharmacy Program Matters
Questions plan sponsors should ask when considering carve-in or carve-out for Rx. Without being a party to PBM contracts, plan sponsors can be left in the dark about the financial terms.
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Rising Cost of Prescription Compounds
According to one national prescription drug benefit manager (PBM), costs of compounded prescriptions have risen over the past two years, up to a 218% average increase. Appropriate clinical programs and contract provisions are needed to avoid millions per year in added expense.
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DEA Reclassifies Hydrocodone Combinations to Schedule II
Frequently prescribed opioid pharmaceuticals such as Vicodin, Lortab and various cough suppressants will be placed under significantly tighter restrictions. The US Drug Enforcement Agency rules reclassifying these drugs from Schedule III to Schedule II takes effect October 6, 2014.
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Parents: Use Standard Measures When Giving Kids Meds
Using a "teaspoon" or "tablespoon" to administer liquid prescriptions to children can result in variations of 20% of the intended dose. A study published in the Journal of the American Academy of Pediatrics showed that medication errors were made by parents over 40% of the time using kitchen spoons instead of accurate measuring tools with marked increments. The study recommends standardized dosage and administration instructions using milliliters.
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Customers Realize $2.3 Million Savings from KPCM
The Keenan Pharmacy Care Management Program (KPCM) offers clients an additional layer of pharmacy benefit management by engaging physicians and members directly. The latest results demonstrate the program's effectiveness.
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We hope you enjoy Keeping Current and invite you to send us your comments and suggestions on what you'd like to see. You can reach us at kppc@keenan.com or contact Clare Brooks at 800-654-8102 ext. 3465.
© 2014 Keenan & Associates License No. 0451271
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