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The Problem
In today’s turbulent times, organizations have to control rising costs now more than ever. We do not have to tell you what the economic uncertainty has done to consumer and corporate spending. This is sure to be having a negative effect to your bottom line. Doesn’t it make sense to control unnecessary or excessive expenses?
If your organization is like most companies, skyrocketing healthcare expenses have contributed to the drain on your financial resources.
Prescription Drugs
A large component of rising health care expenditures are the escalating costs of prescription drugs:
- Nearly all (98%) of covered workers in employer-sponsored plans had a prescription drug benefit in 2007.
- Spending in the US for prescription drugs in 2006 was more than 5 times that spent in 1990.
- Prescription drug spending has been one of the fastest growing components of health care costs, until recently growing at double-digit rates compared to single-digit rates for hospital and physician services
- The share of prescription drug expenses paid by private health insurance increased substantially over the past sixteen years (from 26% in 1990 to 44% in 2006).
Lighting the Way: For hundreds of years, lighthouses have provided guidance and direction - a point of light in a time of need, a beacon of help and hope.
We are "Lighting the way" for companies seeking to control rising health care costs in today’s turbulent times.
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