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:10/12/2017)... ... October 12, 2017 , ... CitiDent and San ... using cutting-edge Oventus O2Vent technology. As many as 18 million Americans are ... cessation in breathing. Oral appliances can offer significant relief to about 75 percent ...
(Date:10/12/2017)... ... 2017 , ... The company has developed a suite of ... authorities worldwide. From Children’s to Adults 50+, every formula has been developed by ... , These products are also: Gluten Free, Non-GMO, Vegan, Soy Free, Non-Dairy*, Preservative ...
(Date:10/12/2017)... ... 12, 2017 , ... The American College of Medical Informatics (ACMI) will present ... the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium ... Collen, a pioneer in the field of medical informatics, this prestigious award is presented ...
(Date:10/12/2017)... Rockville, Maryland (PRWEB) , ... October 12, 2017 ... ... a magnetic drug delivery system that we intend to develop to enable prevention ... regimens can lead to severe hearing loss, especially in pediatric patients. For cisplatin, ...
(Date:10/12/2017)... ... 12, 2017 , ... HMP , a leader in healthcare events and ... Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were announced during the Eddie ... annual award competition recognizes editorial and design excellence across a range of sectors. This ...
Breaking Medicine News(10 mins):
(Date:9/25/2017)... , Sept. 25, 2017   Montrium , ... File solutions, today—from the IQPC Trial Master Files ... , NL)—announced that EastHORN Clinical Services has selected ... programs and TMF management. EastHORN, a leading European ... platform to increase transparency to enable greater collaboration ...
(Date:9/19/2017)... Inc., a venture-backed medical device company developing a non-invasive, robotically assisted, platform therapy that uses ... today:   ... Jim ... Tom Tefft ... Veteran medical device executive Josh Stopek , PhD, who has led R&D and business ...
(Date:9/12/2017)... 12, 2017   EcoVadis , the leading platform for environmental, social ... annual edition of its Global CSR Risk and Performance Index. The report ... based on Scorecard Ratings that analyzed nearly 800,000 data points across the ... ... ...
Breaking Medicine Technology: