How can genetic testing improve outcomes and reduce costs?
Advanced laboratory testing for and population health and benefit managers delivers "personalized medicine", identifying those who need tailored treatment. With the escalating cost of specialty drugs, FDA Black Box drugs, and chronic conditions treated with incorrect medications, pharmacogenetic testing can improve patient care and reduce costs. Contact us today to learn how to implement advanced testing into your program.
The Startling Stats on Healthcare Costs:
- In 2014, 75% of employers are reporting that pharmacy benefit costs are at least 1/5 of their overall health care costs.
- Chronic diseases account for $3 of every $4 spent on healthcare.
- Productivity losses related to chronic diseases cost U.S. employers $1,685 per year, per employee.
- By 2018, specialty drug spending will increase %131.
- 1 in 4 adults have two or more chronic conditions.
- A 131% increase in heart disease spending is expected by the year 2030
- Strokes that occur in the working population average $144,722 per claim.
- For diabetic employees, the cost of care is at least $10,000 per year.