Navigation Links
New OIG Report Confirms Part D Plans Are Driving Generic Utilization
Date:11/16/2007

PBMs Increase Access, Lower Drug Costs for America's Seniors

WASHINGTON, Nov. 16 /PRNewswire-USNewswire/ -- A new report released by the Office of Inspector General (OIG) finding that in Medicare Part D, generic drugs were dispensed 88 percent of the time when generic substitutes were available and that 56 percent of all drugs dispensed are generics confirms that proven pharmacy benefit manager (PBM) tools are driving down prescription drug costs for America's seniors, said the Pharmaceutical Care Management Association (PCMA) today.

"As numerous other studies have found, Part D plans and the PBMs who administer them are driving increased generic utilization," said PCMA President and CEO Mark Merritt. "This most recent report from OIG finding that 56 percent of all Medicare drugs dispensed are generics confirms that proven PBM tools are driving down costs and increasing access on prescription drugs for America's seniors."

Part D plans are achieving high generic utilization rates while complying with numerous Medicare coverage requirements. According to OIG, in Part D:

-- Generic drugs were dispensed 88 percent of the time when

Generic substitutes were available;

-- 37 percent of prescriptions were written for drugs that

have no generic substitutes; and

-- 56 percent of all drugs dispensed were generics.

Proven PBM tools have resulted in overall costs for the Part D program coming in 30 percent less than originally estimated, according to the Centers for Medicare & Medicaid Services (CMS). PBMs will also save the Medicare program and its beneficiaries $693 billion over the 2008-2017 period compared to what expenditures would have been without active PBM management, according to PricewaterhouseCoopers (PwC).

PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 210 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D.


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Virginia Tech Report Has National Importance
2. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
3. GAO Report Confirms: Medicare Underpays for Anesthesia Services; Nurse Anesthetists Assure Seniors Access to Safe Anesthesia Care
4. Haemacure Reports Third Quarter 2007 Results
5. Report on patients access to cancer drugs uses flawed methods to reached flawed conclusions
6. Biotech Finishes on a High in August, Burrill Report Says
7. First-Ever List of the 5,000 Fastest-Growing Businesses Reports Total Revenue of $194.5 Billion
8. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
9. MDS Reports Third Quarter 2007 Results
10. First New York/New Jersey Health Care Report Card Released
11. Authentidate Holding Corp. to Report Fourth Quarter and Fiscal 2007 Year End Results on Thursday, September 13, 2007
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... CT (PRWEB) , ... December 07, 2016 , ... A ... prompted an outpouring of comments on social media that offer a rare glimpse into ... psychiatrist, leading ADHD authority and New York Times bestselling author, has described people with ...
(Date:12/7/2016)... MA (PRWEB) , ... December 07, 2016 , ... They ... They are sisters and wives, brothers and fathers, from New England and around the ... and its stigma, and are brought together in a beautiful and compelling new photographic ...
(Date:12/7/2016)... (PRWEB) , ... December 07, 2016 , ... ... performance connectors, is now promoting to the US market its advanced highly customizable ... LAMTAC® and ODU TURNTAC®. These advanced technologies are ideal for a wide ...
(Date:12/7/2016)... ... December 07, 2016 , ... Baciocco ... services to residents in the Sacramento/Folsom region, is initiating a charity event to ... The Another Choice Another Chance treatment center in Sacramento works to provide area ...
(Date:12/7/2016)... PA (PRWEB) , ... December 07, 2016 , ... One ... regular changing of the securement tape is painful for her. "This is why the ... to patients’ heads," she said. , They then created a prototype of the patent-pending ...
Breaking Medicine News(10 mins):
(Date:12/7/2016)... , Dec. 7, 2016   Arena Pharmaceuticals, Inc. ... it has completed enrollment in the ralinepag phase 2 ... targeting the prostacyclin pathway for the treatment of pulmonary ... at sites globally. "This marks an important ... of our strategic focus on our pipeline," said ...
(Date:12/7/2016)... Diplomat Pharmacy, Inc. (NYSE: DPLO) has launched Diplomat Specialty Infusion Group, ... Professional, BioRx, MedPro Rx, and XAS Infusion Suites. To ... ... Diplomat Specialty Pharmacy (PRNewsFoto/Diplomat Pharmacy, Inc.) ... we continue to build on the work we have done, we ...
(Date:12/7/2016)... 2016   Rx Savings Solutions has partnered with ... its Public Employees Insurance Agency (PEIA) to offer more than ... healthcare software, ultimately saving money on their prescriptions. ... members with access to our software that will alert them ... therapy can be found," says Michael Rea , founder ...
Breaking Medicine Technology: