Self-Insured Companies Missing Out on Massive Savings if Not Using Biosimilars, Report Says

April 4, 2020

The analysis looked at 13 of America’s largest employers, including energy, hospitality, retail, transportation, and finance companies.

Self-insured companies could have saved $407 million to $1.4 billion in 2018 had they switched completely from reference biologics infliximab and filgrastim to biosimilars, according to a report from the ERISA Industry Committee.

The study also estimated potential savings for Medicare programs at $279 million in 2018.

“For the biosimilars market to promote price competition and successfully generate savings, it is important that plan sponsors reconsider their options based on the full savings potential offered by each product. Increased transparency and greater access to information are an important first step,” study authors said.

To read the full story, visit The Center for Biosimilars.