Corporations & Municipalities

On-site pharmacy can significantly reduce prescription drug spend for the self-insured.

Climbing Healthcare Costs

Over the past 15 years, the average cost for a prescription drug has risen over 60%. Part of this rising cost falls on the employee, and part on the employer. In 2013, the average employer contribution for a healthcare policy for an individual employee was $4,401; for an employee with family coverage, it rises to $11,608. A recent survey showed that the prescription cost of an employee's healthcare coverage is about 16% of the total healthcare cost—so for a 500-employee company (with a 50/50 split between individual and family policies), the employer yearly cost for just prescription coverage is more than $640k! As this "cost of doing business" continues to grow, it becomes more and more difficult to add the needed personnel/jobs to grow or maintain the company.

Employer-Owned Pharmacy

Many corporations own medical clinics to serve their employees. However, few have taken the next logical step by owning a pharmacy. Fortunately, for self-insured companies and municipalities, owning an on-site pharmacy for employee (and their family) use, can significantly reduce the cost of providing prescription coverage for its employees. PharmaPoint can work with you to structure your employees prescription plan in a way that incentivizes them to utilize your pharmacy, while providing you with the profits of the pharmacy (thereby reducing the cost of your employee prescription drug plan).

The Result

A self-insured corporation or municipality owned on-site pharmacy can save significantly on the employer prescription drug spend, while increasing employee satisfaction and health.