Imagine uncovering the secrets to managing the ever-changing world of healthcare and pharmacy expenses, gaining insights on how to reduce total healthcare spend, and staying ahead of the industry's money-making machine. We had the pleasure of speaking with Joey Dizenhouse, senior VP and head of IHP at Health Trust Performance Group, who shared his journey from being an actuary in Canada to navigating the complexities of the U.S. healthcare market. Joey dives into the challenges plan sponsors face in managing the cost of prescription drugs and the three main areas of focus to address this issue: individual drug prices, usage, and mix.

In our conversation, we also explore the idea that creating scale isn't always the solution for reducing healthcare spend. Joey emphasizes the importance of leverage, spend, and deep subject matter expertise in this process. He also sheds light on the intricacies of formulary control and the tenacity needed to fight against the industry's powerful forces.

Lastly, we delve into the fascinating world of pharmacogenetic testing and its potential impact on the healthcare industry. Joey shares his thoughts on the possible benefits and drawbacks of utilizing this technology, and the role of benefit advisors in this process. Don't miss this engaging and informative conversation with Joey Dizenhouse, as we uncover the keys to better understanding and managing pharmacy costs and volatility in healthcare.