WEBINAR: Avoid Financial Catastrophe with HealthSmart's Specialty Case Management
The rising cost of care is a major issue for all types of payers, but a single case of a rare or complex condition can wreak havoc on a self-funded plan.
Consider these numbers: There are more than 7,000 rare diseases affecting 25-30 million Americans… Many of them are children who will require long-term treatment.
- 1% of rare conditions drive up to 30% of the rising cost of providing healthcare benefits.
- Only 5% of rare diseases have an FDA-approved therapy.
- 1 in 2 new FDA-approved drugs are Orphan Drugs, which are driving new treatments for rare diseases and are among the most expensive
The Orphan Drug Act was passed into law in 1983 to encourage pharmaceutical companies to create new medications to treat conditions that have catastrophic health effects on patients but occur so infrequently that market demand for the drugs would never cover the cost of research and development or production. The Act provides certain market and tax incentives to create a profitable market for the treatment of these conditions. As genetic editing and other scientific advances have taken hold, the number of orphan drugs entering the market has risen sharply, serving as a major driver of health benefit cost increases.
In addition to rare diseases, many chronic conditions are costly and extremely common. Chronic Kidney Disease, for example, impacts approximately one in 15 Americans—and many are unaware of it. HealthSmart’s innovative approach to specialty case management leverages the power of patient data combined with clinical judgement in a multidisciplinary team approach to detect high risk members, appropriately intervene, and engaging members into taking evidence-based action to optimize clinical outcomes and mitigate the cost of care.
“Our Case Management approach starts with sophisticated data, but the key to driving better outcomes is clinical judgement and a multidisciplinary team approach,” said Pam Coffey, RN, HealthSmart’s Chief Clinical Officer. “Working closely with our pharmacy team, our case managers are able to ensure that patients are getting the right treatments and accessing the right medications at significantly lower prices. It’s an approach that none of our competitors can match.”
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Watch this informative webinar and download the slides explaining how our data-driven clinical approach to specialty case management can protect your clients from catastrophic losses. Pam Coffey, RN, Chief Clinical Officer and Martino Luu, EVP of HealthSmartRx, will share the benefits of a truly innovative approach to managing high cost clinical conditions to achieve better outcomes, reduced cost and more satisfied members and clients.