Are You Optimizing Generic Drugs?

by | Jul 18, 2018 | Cost Reduction, VIE Healthcare Blogs

There may be a big opportunity here for you in the name of optimizing generic drugs. In fact, even moving the needle just a little bit could create dramatic results for you. 

Let’s start by sharing an important statistic.

In the United States, 92% of all prescriptions are being utilized in its generic format. Click To Tweet

Although the US already has achieved a higher level of generic utilization than any other country, there is still room for increasing generic efficiency within many therapy classes.

Optimizing generic use will be crucial in controlling spending, considering both Medicaid expansion and our aging baby boomer generation.

What we’re suggesting is that if the US could move their generic utilization by 6%, and that means a 10 billion dollar opportunity in costs control, what does that mean for your organization?

Think of creative, innovative ways you can move the needle by 1% to 6% in the next year. It’s achievable, and could also lead to dramatic profitability increases in your organization.

Share your thoughts in the comments, what’s one way you can move the needle in this area?

The audio version of this entry is available at the bottom of this post.

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