Navigation Links
Corporate Benefit Executives Identify Ways to Curb Prescription Drug Prices
Date:12/18/2007

Annual Arxcel study reveals that corporate benefit executives blame high

prescription costs on drug manufacturers

WILLIAMSVILLE, N.Y., Dec. 18 /PRNewswire/ -- Corporate benefit executives identified ways to curb high prescription drug costs in the 2007 Arxcel Prescription Benefit Research Survey. And, drug manufacturers are to blame for the high cost of prescription benefit programs, according to 70 percent of survey respondents.

Each year, prescription benefit management consultancy Arxcel (http://www.arxcel.com) commissions its annual Prescription Benefit Research Survey, gathering perceptions from leading benefit managers and HR executives nationwide regarding factors contributing to skyrocketing drug costs and possible solutions for impeding inflation. This years' sixth annual survey also measured the perceptions of Pharmacy Benefit Managers (PBM) for the first time.

Three out of every four respondents listed patient education about the cost effective use of a medicine as a method to lower costs. About 65 percent said educating physicians about the costs associated with prescription benefit plans would help.

"Patients and physicians can help reduce the cost of prescription benefits by constantly seeking more information on the appropriate drugs for certain health conditions. Getting the right drug to the right patient for the right condition is key to developing long term-cost control," Arxcel CEO Chris Robbins said.

Continuing to get a strong rating, 69 percent favored mail-order pharmacies as a solution for rising costs. Clinical oversight also ranked high as a possible solution, garnering support by 66 percent of those surveyed.

When respondents were asked to name the most significant cause of rising prescription costs, direct-to-consumer (DTC) advertising ranked first with 45.5 percent. Research and development (R&D) ranked second with 24.6 percent. When combined, these numbers reveal 70.1 percent of those surveyed blamed drug manufacturers for the high cost of prescription benefit programs. An aging population ranked third, with 16.8 percent.

Sixty percent of respondents said they expect an increase in prescription plan costs of up to 15 percent in the coming year. Almost half expect to pass at least part of the increase to employees.

The survey showed a split perception of the PBM industry. Half of the respondents rated the industry as "positive" or "very positive" while the other half rated it "neutral" to "very negative." While the industry received mixed reviews, individual PBMs fared somewhat better. Nearly two-thirds rated their PBM favorably with 52 percent trusting their PBM is operating in their company's best interest.

Headquartered in Williamsville, N.Y., Arxcel is a national pharmacy benefit consulting group that provides expert counsel and support in the areas of pharmacy benefits program operation and management; strategic analysis; and sales and marketing. Arxcel partners with providers of prescription drug programs to manage quality and control costs.

View the full 2007 Arxcel Prescription Benefit Research Survey at: http://www.arxcel.com/research/overview.html


'/>"/>
SOURCE Arxcel
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. S.C. BlueCross Creates Corporate Planning Unit, Promotes Davis to Vice President
2. Corporate and Political PR Pro to Lead Sudden Cardiac Arrest Association
3. DTI Medical Corporation Announces Reverse Split and Other Corporate Developments
4. Meeting Expectations Named to First Annual CMI 25 List by Corporate Meetings & Incentives Magazine
5. Amylin Pharmaceuticals to Webcast Corporate Overview During 43rd Annual Meeting of the European Association for the Study of Diabetes
6. DSS Research Moves Corporate Office
7. The African Medical and Research Foundation (AMREF) Honors Merck & Co., Inc. with Global Corporate Philanthropy Award
8. Accuray Incorporateds CEO to Speak at UBS Global Life Sciences Conference
9. Eularis Announces New Corporate Name and Expanded Product Offerings
10. AXA Equitable Life Insurance Co. Hires William McDermott to Lead Corporate Retirement Planning Business
11. US Med-Equip Expands Corporate Support Center
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ... , ... The Military Officers Association of America (MOAA) announced its support for ... Marine Col. Thomas G. Bowman. , Bowman currently serves as the staff director for ... the issues and challenges veterans face with the VA. Following a 30-year career of ...
(Date:6/23/2017)... ... June 23, 2017 , ... Military Connection friend ... entry to the JFK Virgin Atlantic lounge. , Bensko is no stranger to ... years ago, Bensko dedicated her life to supporting our wounded veterans. A world-class photographer, ...
(Date:6/23/2017)... ... , ... Goodcents Deli Fresh Subs today announced the opening of a new ... St. Topeka, Kan. 66604 (near 21st and Gage). It is owned and operated by ... locations in the Topeka and Bonner Springs, Kan. area. , “Goodcents has such ...
(Date:6/23/2017)... ... June 23, 2017 , ... Ensuring meat ... new videos highlight the importance of correctly using a meat thermometer. The videos ... done extensive research on consumer food safety habits. Dr. Bruhn explains the variety ...
(Date:6/23/2017)... ... ... 21 Middle East and South Asia Leaders Selected as Eisenhower Fellows , ... in 11 countries across the Middle East and South Asia to embark on a ... and ideas with the leading minds in their fields. , For the first ...
Breaking Medicine News(10 mins):
(Date:6/13/2017)... , June 13, 2017 Zimmer Biomet Holdings, Inc. ... today announced that the U.S. Food and Drug Administration (FDA) ... 3, 2015 relating to its Zhejiang, China ... "The successful clearance of the Warning Letter ... manufacturing facility is a measure of the progress we have ...
(Date:6/10/2017)... Ala. , June 9, 2017  Shane K. Burchfield, DPM, ... recognized for excellence as a Podiatrist in Alabama ... Podiatry at Family First Foot Care. He brings over 20 years ... medicine, pain management and healthcare, to his role. ... First Foot Care, PC is pleased to welcome you ...
(Date:6/8/2017)...  Less than a month ago, amateur hackers executed ... including hospital networks, in over 150 countries. ... largest online extortion attempts ever recorded. With the increasing ... imperative that providers understand where the risks lie, and ... and many other very real cyber threats.  ...
Breaking Medicine Technology: