Navigation Links
Employers Enjoy PBM Savings & Negative Rx Trends
Date:3/11/2008

PRINCETON, N.J., March 11 /PRNewswire/ -- Mary Ellen Sheehy, an executive with the New Jersey Hospital Association (NJHA), presented three case studies for success at the Marcus Evans Corporate Benefits Summit at the Arizona Biltmore Resort and Spa in Phoenix, AZ yesterday. The presentation was titled "A Prescription for Successful Rx Trend Management and Plan Savings." Highlighted were three employers -- Christ Hospital of Jersey City, NJ; Valley Hospital of Ridgewood, NJ; Newton Memorial Hospital of Newton, NJ and a Pennsylvania school district. The selected employers participate in NJHA pharmacy benefit program that has received to date extremely positive press about its outstanding performance. The outline of the presentation included: How to make effective choices, competitive co-pays without cost shifting to employees, benefits of the Association/Coalition pricing structure, new alternatives, financial components, the benefits of developing benchmarks and savings estimates and comparing the projections verses actual experience, performed by their consultant ARMSRx and the advantage of utilizing monthly audits, and maintaining consistency for the future.

The analysis findings indicate that the NJHA's 2007 Per Member per Month cost increased by only 2.6% over the entire book of business as compared to a 6% increase seen on the major PBMs' book of business. The majority of NJHA employers do not employ mandatory generic programs, however the overall generic fill rate was up from 51.1% to 55.7%. The most impressive discovery is that over 25% of the active 2006 & 2007 clients have negative trends!

The NJHA program offers leverage, aggressive pricing, stringent performance guarantees and formulary alignment that far exceed programs currently offered in the marketplace. Originally developed for the NJHA member hospitals, the program has evolved to include non-hospital employers due to broker and consultant demand to place other clients on this well received "New Generation of Pharmacy Benefit" program.

ARMSRx (Administered Risk Management Services Rx), Pharmacy Benefit Consultants, the health care industry's leader in transparent pharmacy benefits negotiation and assessment, has performed an annual audit and review for The New Jersey Hospital Association's (NJHA) Employee Benefit Prescription Program. ARMSRx represents the association, its member hospitals, third party administrators and employers participating in its PBM program and provides quarterly/annual audits, savings analysis, and plan modeling for prospective and existing employers. For more information contact Jennifer Kingsley Wilson -- CEO ARMSRx at 800-578-9714, or visit http://www.ARMSRx.com


'/>"/>
SOURCE ARMSRx
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Top Employers Show Investing In Health and Well-Being Leads to Business Success
2. Anthem National Accounts Introduces New Products for Large Employers Early Retirees
3. San Antonio Employers Look to Wellness Programs to Tackle Rising Health Insurance Premiums
4. Prime Therapeutics Introduces Efficiency Program to Help Employers Understand How to Most Effectively Spend Pharmacy Dollars
5. Few Employers Addressing Workplace Stress, Watson Wyatt Surveys Find
6. GSK Launches New Website to Help Employers Lower Costs and Improve the Health of Workers
7. EBRI Policy Forum: Large Employers Continue to Offer Health Benefits
8. Survey: Massachusetts Employers, Employees Paying Most for Health Care Plans
9. HealthFitness Adds More Than 25 Clients as Employers Adopt 21st Century Health Benefit Design
10. AHRQ Releases Consumer Financial Incentives Guide for Employers and Other Health Care Purchasers
11. Sedgwick CMS and UnitedHealth Group to Develop Integrated Disability, Medical, Workers Compensation and Leave Administration Services for Employers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... Angeles, CA (PRWEB) , ... December 02, 2016 , ... For over twenty-four years, ... lien basis to help personal injury victims find high quality medical care. When the ... Los Angeles area. Fast forward to present day and the now ten-page directory features ...
(Date:12/2/2016)... ... December 02, 2016 , ... FlexiSpot, a trusted name in ... trial program for all of the company’s desktop riser products. A simple application ... experience. , FlexiSpot’s unique desktop risers use an advanced dual gas spring hovering ...
(Date:12/2/2016)... ... December 02, 2016 , ... U.S. Surgeon General, Dr. ... Mediaplanet, Dr. Murthy explains how he was inspired to practice medicine at an early ... medicine is about more than making diagnoses and prescribing medicine,” he states. “It is ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... California, will be included in the 2016 “Guide to America’s Top Plastic Surgeons” ... on the amalgamation of their education, experience, and professional associations. , One ...
(Date:12/2/2016)... Delaware (PRWEB) , ... December 02, 2016 , ... ... released a new version of its SaaS LIMS, CloudLIMS Lite. CloudLIMS Lite helps ... sample entry through labeling, storing, shipping and disposal. The new version is a ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... 2016 Around the corners of world, cancer ... habitable land present over earth. Cancer has become one ... a life time this is because of the increasing ... Given the steady increase in global cancer incidence with ... healthcare costs of treatment, there is increasing interest in ...
(Date:12/2/2016)... -- The iShares Nasdaq Biotechnology Exchange-Traded Fund has ... early in November. Less political risk has boosted the ... an uptick in M&A activities. Today, Stock-Callers.com takes a ... have fared at the last close: Celldex Therapeutics Inc. ... FOLD ), Navidea Biopharmaceuticals Inc. (NYSE MKT: ...
(Date:11/30/2016)... , Nov. 30, 2016  Millennium Dental Technologies, Inc. announced ... in the Superior Court of the State of ... alleging violation of the California,s Uniform ... unfair and fraudulent business practices which are untrue and misleading, ... This is the second time in three years ...
Breaking Medicine Technology: