Navigating the intricate maze of specialty drugs and their ever-increasing complexities in payment methods has proven to be a big challenge in the pharmacy landscape. A color-coded “bagging” system for specialty medications offers the potential to reduce costs in some cases, but some drawbacks exist.
Mark Campbell, Senior Vice President of Clinical Solutions, unpacks the nuances of specialty color-bagging practices, in a recent article from BenefitsPRO. For example, white bagging has shown promising results in lowering payers’ costs, according to a JAMA Network Open study. Payer reimbursements were, on average, over $2,000 lower when pharmacies white-bagged oncology drugs compared to buy-and-bill provider payments.
However, like many solutions in the healthcare industry, buy-and-bill practices and specialty color-bagging strategies have pros and cons. Striking the right balance between these methods is essential for healthcare providers and payers aiming to optimize cost-efficiency and patient care.
For more detailed insights into color-bagging read the full article on BenefitsPRO.