As Employers Continue Shift to Self-Insurance for Medical Benefits, Movement to Direct Contracting for Pharmacy Benefits Also Underway, According to Data from HealthLeaders-InterStudy
NASHVILLE, Tenn., April 6 /PRNewswire/ -- HealthLeaders-InterStudy, the leading provider of managed care market intelligence, reports that between January 2008 and July 2008 enrollment in pharmacy benefit plans for which employers contract directly with a pharmacy benefit manager (PBM), also known as a "carve-out," increased by more than six million lives to 55.9 million, a nearly 13 percent increase. Data to support this trend, and other enrollment information, can be found in the latest release of Managed Market Surveyor-Rx, a database product from HealthLeaders-InterStudy that delivers medical and pharmacy benefit enrollment by managed care organization and geography.
During the same period, HealthLeaders-InterStudy data reveals that self-insured medical enrollment grew by 1.6 million lives, or 2.2 percent, to more than 75.3 million members nationwide. By assuming more risk, employers can reduce the overall premium costs for each employee through the elimination of premium taxes, risk charges and other costs.
"Contracting directly with pharmacy benefit managers offers employers more options for benefit design and co-pay structure, enabling them to improve control of their drug benefit spending," said Lance Wolkenbrod, data analyst with HealthLeaders-InterStudy. "As companies continue to look for ways to better control costs, we'll likely see this trend continue as more employers move to direct contracting with pharmacy benefit managers."
Why Pharmaceutical Companies Need Managed Market Surveyor-Rx
Managed Market Surveyor-Rx delivers medical and pharmacy benefit enrollment data by managed care organization and geography (national, state, MSA) to better inform strategic planning and resource allocation. Relying on primary research and HealthLeaders-InterStudy's proprietary validation methodology, Managed Market Surveyor-Rx provides the most accurate managed care database available.
HealthLeaders-InterStudy, a Decision Resources, Inc. company, is the authoritative source for managed care data, analysis and news. For more information, please visit www.HL-ISY.com.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
For more information, contact: Lisa Osgood Elizabeth Marshall HealthLeaders-InterStudy Decision Resources, Inc. 781-296-2606 781-296-2563 firstname.lastname@example.org email@example.com All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
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