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Addressing the Challenges Despite these challenges, public sector entities have several ways to address their unique issues and needs, some of which include: Optimizing Resource Allocation Leverage collective purchasing power for pharmaceuticals and medical supplies. Evaluate pharmacy benefit management strategies for cost efficiency.
Weight Loss Medications: Learn how strategic plan design can help you avoid off-label utilization and manage the costs of these high-priced drugs, ensuring employeewell-being without compromising your financial bottom line. Discover smart plan design for cost control in evolving markets.
Reducing specialty pharmaceutical spending. Steering employees toward proven services that produce positive health outcomes at a lower price, such as high-performance networks and centers of excellence. Enhancing employeewell-being. The survey found employers focusing on three cost-cutting measures.
Enhanced employee satisfaction For wholesome working experience in an organization, interventions are required at all stages of an employee’s life cycle, along with pre-hiring and post-exit stages.
SAP is a major software company that prioritizes the health and well-being of its employees as a key part of its overall business strategy. So, it included a yearly employee survey and rehashed it as the Business Health Culture Index to measure the success of their employeewell-being programs.
At least one pharmaceutical company, Eli Lilly, has already come to that conclusion and took it upon themselves to cut insulin prices by 70%, capping out-of-pocket costs to $35 per month for everyone – including those who are not seniors covered by the Medicare cap.
As pharmaceutical and biotech companies adapt and conform to evolving regulations and workforce expectations, it’s essential that human resources strategies adapt to meet the new challenges and opportunities presented. This shows how investing in DEI can be socially and economically beneficial.
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