Another way Wagner has found to hold down costs is by educating customers to call automated pharmacies 24 hours in advance. Customers are able to get the same product, but do not have to deal with a long wait because their order is ready for them. A formulary is a list of preferred drugs classified by treatment category. Many pharmaceutical companies offer discounts to health care plans in return for an exclusive or partially exclusive formulary listing. When selecting a plan, determine if it has a formulary that meets your needs.
Some larger plans make their formulary available on their Web site.
Be wary of plans that won't give you information on the formulary before enrolling. Finding out about your plan's drugstore availability is another method of cost management. Plans with exclusive contracts with a few large pharmacies are generally cheaper. While all this research can necessitate considerable time and effort, entrepreneurs armed with the knowledge of how to provide health care with pharmaceutical benefits reap multiple benefits in terms of attracting and retaining happier and healthier employees. Dr. Baskous is well aware of how rising pharmaceutical costs affect small business and how private practices can continue to operate in light of this reality.