This episode features Dustin Craik, Chief Financial Officer, Local Government Health Insurance Board. Here, he discusses his and his team’s focus on specialty drug trends, biosimilars that help drive drug prices down, new innovative biometric technologies he’s excited about, and more.
Summary
Dustin Craik, CFO of Local Government Health Insurance Board Discusses Drug Trends, Biometric Technologies and Future Plans
Specialty Drug Trends and Innovative Biosimilars
Dustin Craik, Chief Financial Officer of the Local Government Health Insurance Board of Alabama, discusses his team’s focus on specialty drug trends and biosimilars that help drive drug prices down. He is working with outside consultants to determine the root causes of what is driving up costs and utilization. He also talks about the importance of finding innovative biosimilars that can help offset some of the costs associated with specialty drugs.
New Biometric Technologies
Dustin is excited about the future of the agency, which includes investing in new building infrastructures and technology to better serve its members. Dustin is in charge of a state health plan and has been working on getting new projects off the ground, such as a benefit administration system, and a wellness platform. The wellness program includes biometric wellness screenings annually for subscribers and their spouses, which gives them an idea of their BMI, blood pressure, cholesterol, and blood glucose. These innovative technologies have been successful in the diabetes reversal program and weight loss program with ROI guarantees in place. The goal is to increase enrollment in these programs and promote the wellbeing of members.
Future Plans
Dustin’s team is actively looking to increase the Local Government Health Insurance Board’s population by meeting with groups that fit their needs. With all these projects underway, Dustin believes the future is bright for the agency. They are making huge investments in technology to ensure that they can better serve their members. Furthermore, investing in a new building to improve their infrastructure will allow the agency to operate at a more efficient level.
The Road Ahead
With so much in the pipeline, Dustin is optimistic about the future of the Local Government Health Insurance Board. Biometric technologies and screenings are helping members offset costs while improving their overall health. Advanced biosimilars and deep dives to determine the root cause of cost increases are leading the way to more affordable health for all. Innovative technologies and increased communication with members are leading the way to a brighter future.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 12/10/2022 and can be listened here.
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