Our Q&A with our Partner and Executive Vice President Wayne Orchard
As we approach this Memorial Day weekend, the unofficial kick-off to summer, those in the healthcare industry know it’s also the peak of the healthcare conference season. Our teams have attended and exhibited at numerous conferences this year, and we’ve noticed one prevailing topic among attendees: the urgent need to develop cost-containment strategies, particularly in response to the soaring costs of GLP-1s and chronic care medications.
Wayne Orchard has agreed to be interviewed for our Wellness Wednesday virtual care blog to help explain and navigate this complicated topic and tell us how Lyric Health is tackling the rising costs of GLP-1 medications.
It seems that we hear more and more about GLP-1 medications in the news every day. The market is poised to set new records and will only continue to grow in importance, underscoring the necessity of finding solutions to reduce costs and mitigate risks for TPAs and employers. Lyric Health is launching a new program; tell us about it.
Q: What is Lyric LEAN?
A: Our Lyric LEAN program offers a robust, comprehensive suite of state-of-the-art virtual care solutions. Clients can tailor their services to meet their needs, incorporating all aspects of the weight loss journey.
There are tremendous success stories around those using Semeglutide, like Ozempic, for medically assisted weight loss. However, there is an underlying theme going on in each of these stories. As you read through each story, look for what they all did. It wasn’t just a shot. All of them changed how they ate and exercised.
It’s hard to find a story like “I take a shot once a week, lay around, and still eat the same way” because they don’t seem to exist.
So, “The Shot” isn’t the only thing helping people lose weight. This is why I call it Medically Assisted Weight Loss: It is just a tool to help with a person’s health journey. People still need to do other things, like nutrition and exercise, to be totally successful.
When choosing a GLP-1 weight management vendor, your participants must have all the components, not just a shot.
Q: Explain how Lyric LEAN differs from other weight-loss companies.
A: Lyric LEAN is a holistic step therapy approach to weight loss. Our program begins with a consultation with our clinician team and completes a health assessment. This consultation incorporates each step of the weight loss journey, including nutrition counseling, diet and health coaching, body composition analysis, and mental and behavioral health support. Any successful weight loss program has to include all aspects of the health continuum.
Q: How can employers mitigate employee costs and still provide access to these wanted and needed medications?
A: Medication is one of the most significant expenses for any group. Through judicious medication selection and dosage optimization, Lyric Lean has the mail-order resources to mitigate unnecessary expenses and efficiently allocate medications.
Q: How can employers design coverage for GLP-1 medications that is financially sustainable?
A: Through our effective virtual first ecosystem, Lyric Lean can be more cost-effective in reducing medical claims, addressing the root causes, and implementing preventive measures, allowing us to mitigate claims proactively.
Q: Should employers and employees focus more on primary care to combat rising health costs concerning weight loss?
A: Yes, absolutely; by utilizing our virtual primary care solution, employers and employees allow employees the early detection of health issues, which can significantly improve patients’ overall health. This improves indirect costs such as disability claims, workers’ compensation, and lost productivity with an unhealthy workforce.
Overall, GLP-1’s “Shots” are not a magic solution; employers and employees must adopt a holistic approach to their weight loss journey. The latest statistics show that 7 out of 10 adults and 3 out of 10 children in the U.S. are overweight or obese, according to the CDC, costing the U.S. nearly $173 Billion in 2019, and adults who are obese on average. $1,861 higher medical costs than people with a healthy weight. With these numbers, employers can’t afford to implement cost mitigation measures to keep their healthcare claims down and provide their employees with the best healthcare they deserve.
For more information about Lyric Health and Lyric LEAN weight loss, visit us at https://getlyric.com/
