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:8/24/2017)... ... August 24, 2017 , ... Lori ... the development and advances in Desensitization therapy to improve the outcomes of organ ... about his remarkable journey of his 25 years of research in developing therapies ...
(Date:8/24/2017)... ... August 24, 2017 , ... Prime candidates for home ... have a condition that needs further monitoring such as surgery, stroke, heart attack ... stable, such as diabetes, high blood pressure, heart/lung disease, arthritis and stroke. ...
(Date:8/23/2017)... ... 2017 , ... The Arc Mercer, Capitol County’s premier provider of programs and ... community organization for people with special needs. The group, the Special Needs Alliance for ... of New Jersey – but the first in the entire country! , SNAP was ...
(Date:8/23/2017)... ... 2017 , ... Drs. Steven White and Brad Haines are pleased to announce ... of this offer, valued at more than $300 per year, new patients can enjoy ... patients receive a complimentary professional whitening procedure. , Stained or yellowed tooth enamel ...
(Date:8/23/2017)... ... ... Awards have announced the winners of the Best of the IBA Awards in The 2017 ... in the 2017 IBAs were not able to apply for the Best of the IBA ... awards won in the IBAs with a Gold Stevie win counting for three points, a ...
Breaking Medicine News(10 mins):
(Date:8/15/2017)... 2017   Mostyn Law and Gulf Coast Regional Blood ... . The Mostyn Law family has had 3 ... is why Mostyn Law is partnering with Gulf Coast ... its appreciation. Blood supplies are running low. Gulf Coast ... hospital needs in August. That is why the blood center reached ...
(Date:8/15/2017)... , Aug. 15, 2017  AOTI Inc. announced today that ... Therapy Inc., has recently opened a New York City Office in ... usage of its unique Topical Wound Oxygen (TWO 2 ) homecare ... the Accreditation Commission for Health Care (ACHC) under the company,s DMEPOS ... ...
(Date:8/8/2017)... -- BioLineRx Ltd. (NASDAQ/TASE: BLRX), a clinical-stage biopharmaceutical company focused ... for the second quarter ended June 30, 2017. ... and to date: ... Company,s lead project, BL-8040: Announced plans ... novel stem cell mobilization treatment for autologous bone-marrow transplantation ...
Breaking Medicine Technology: