Since the emergence of the Medicine Benefits Program (PBM) in the United States in the 70’s, the focus has been on buying and selling drugs. Being a business relationship, it provided more benefits to employers, doctors, retailers and the pharmaceutical industry.
With the evolution of society and the rise of more connected generations, such as Millennials and Generation Z, PBM has developed and incorporated new services. In addition to guaranteeing discounts on drug purchases, the gradual increase in service levels led to the emergence of PBM 4.0.
Managing benefits is a task that requires time and attention
In PBM 1.0, management did not exist. Employee registration was bureaucratic and did not know the program. With PBM 2.0, Pharmacies has expanded its service network for employees.
Subsequently, PBM 3.0 introduced the magnetic card, the selection of products included in the program, and in some cases, usage limits. Registering, creating cards, defining resources and constraints were tasks that required a lot of attention in the HR area. The higher the employee turnover, the higher the work stress.
PBM 4.0 is integrated with leading HR programs. This reduces bureaucracy and document storage, automates control of medical prescriptions, and prevents fraud.
More affordable drugs improve the quality of life of employees
According to figures from the Brazilian Institute of Geography and Statistics (IBGE), health is the fourth largest expenditure in the budget of Brazilian families, behind only housing, food and transportation. Drug costs, for example, represent 30% of the total.
The evolution of PBM offers significant discounts on drugs, facilitates access to treatment for diseases, and reduces the use of more expensive health services.
Traditional pharmacy has diversified its product range over the years, allowing its effects to be maximized. However, discounts for PBM were limited to a small group of prescription drugs.
According to ABIHPEC (Brazilian Association of the Personal Hygiene, Perfumery and Cosmetics Industry), the search for hygiene and personal care products has been on the rise since 2013. If personal care for new generations is part of the concept of health, then the common people in the society will be affected by the epidemic and they will start taking more care of their hygiene.
In PBM 4.0, all operations are performed through the application, where the employee has access to discounts on the entire product line, namely, medicines (including high-cost and handling), OTC (OTC medicines), medical products, hospitals and hygiene and beauty.
Concessions on the overall healthcare classification reduce the pressure on staff budgets.
Young people look for apps, comfort, practicality and accessibility
New generations created new habits of work and consumption. They not only drive but also demand change.
If before the epidemic, digital natives preferred to use products and services online, the number increased by 42% after Covid-19. Regarding online purchases of health products, fintech iq’s survey showed a 38% increase in 2020.
Improving the organizational environment involves accepting the language and benefits offered according to the culture of the employees. As the number of millennials and Gen Z grows, it becomes difficult for many companies to update their values and programs.
In order to meet these new demands, systematic attention must be paid to health in the workplace.
HR is more and more strategic in companies
In this sense, data analysis is an important contributor to decision making, improving the work environment and the success of the company.
Bringing intelligence for data collection is the first step in implementing a data-driven culture in an organization. The second step is to use technology to organize and validate this information, making it more accessible.
There are three main indicators of health in the work environment: absenteeism rate; Epidemiological Technical Nexus (NTEP) and Accident Prevention (FAP). However, having these indicators in hand is not enough.
For millennials and Generation Z, health and especially mental health is a concern that drives their actions and life choices. Thus, health is a good reason to change jobs and find companies that share similar values.
For more information: MediPrice