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Generic Prescription Initiative

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It should come as no surprise that the annual increases in spending on medical care in the United States has placed the entire industry under the collective microscopes of virtually all health care stakeholders. Purchasers of health care, both public and private, are demanding improved efficiencies and higher quality. The trend toward consumer directed health care is placing the patient at economic risk, and the political call to reform the present system is gaining momentum. No one knows what the future holds, but one thing is clear; unless action is taken by physicians to help control costs and address quality concerns, changes will be mandated by those who have little concept of the Doctor/Patient relationship and its primary role in the delivery of health care.

The improved use of generic therapeutic equivalent pharmaceuticals represents an immediate and effective means to lower health care costs. This is true not only for the insurer who is pressured to stabilize premiums, but also for the patient. The patient will realize an estimated $300 per year savings for each appropriate generic substitution. Even incremental increases in percentage of generic use rates can translate to millions of dollars saved for Connecticut health care stakeholders.

The CSMS-IPA, Inc. and Health Net have initiated a joint program with goals of providing information related to generic use rate. Perhaps this information will be sufficient to focus your attention on this cost savings opportunity for your patients (co-pay savings) and overall health care system costs.

It is also pertinent to remind you that there are components of the Health Net/ CSMS-IPA pay for performance program (Partners for Quality and Cost Effective Care (P4Q)) which provides financial rewards for improvement in generic use rate on an annual basis in addition to recognizing the best performing physicians within peer specific groups.

Additionally, as you may know, Health Net, the CSMS-IPA and Emdeon have recently made electronic prescribing available to all IPA members at the nominal cost of $5 per practitioner per month. This tool streamlines prescribing, decreases potential drug errors and can assist you in making progress in the area of generic use. Click here to learn more about this value-added service.

Thank you for your continued support of your patients and your understanding and cooperation. Should you have any questions regarding this initiative, click here to contact the IPA. 

If you would like to see details of your generic rate, click here.
 

    If you would like more information or are interested in participating in the CSMS-IPA, please call 203-225-1291.