Earlier this month, Navitus, a pharmacy benefits manager (PBM), released its eighth annual drug trend report that reveals how plan sponsors are saving on prescription drugs amidst rising costs and inflation. The report shows that 29% of Navitus customers paid less for prescription drugs in 2023 than they did the previous year, despite inflation and the rise of expensive GLP-1 medications.
In the report, Navitus shares that their ability to out-perform industry trends in rising drug costs is the result of their, "strategic approach that focused on delivering the lowest net cost to clients, 100% transparency on drug costs and a people-first mission."
According to the report, new clients realized an average of 11% reduction in costs compared to the previous year, with a different PBM.
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