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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 pe
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SOURCE Arxcel
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