When money failed to motivate Express Scripts Inc. customers to switch to cheap generic cholesterol drugs, the pharmacy-benefits manager turned to psychological tactics. The company was so pleased by the result -- a six-fold increase in converts -- that on Tuesday it plans to announce the opening of a research center to learn more about what motivates customers' health-care decisions.
Express Scripts says its customers who migrated from branded cholesterol drugs realized $600 million of savings. Because profit margins on generics are much higher, replicating Express Scripts' cholesterol-drug success on a wider scale promises a windfall for patients and PBMs alike. It also could pay big dividends for employers, insurers and state and federal governments that are attempting to rein in health-care costs.
Express Scripts says its customers who migrated from branded cholesterol drugs realized $600 million of savings. Because profit margins on generics are much higher, replicating Express Scripts' cholesterol-drug success on a wider scale promises a windfall for patients and PBMs alike. It also could pay big dividends for employers, insurers and state and federal governments that are attempting to rein in health-care costs.
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