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:3/23/2017)... ... March 23, 2017 , ... The ... from the NCQA. The accreditation covers StayWell’s asthma, coronary artery disease, congestive heart ... granted to organizations that have excellent programs for the delivery and improvement of ...
(Date:3/23/2017)... ... March 23, 2017 , ... March 23, 2017 - ... to easily reprint customer invoices, bills, statements and other correspondence when they have ... needed to retrieve and print the documents and batch them for efficient handling. ...
(Date:3/23/2017)... OR (PRWEB) , ... March 23, 2017 , ... Sharon ... Water, Global Climate Change and Your Health on VoiceAmerica, recently talked on her program ... she also used the occasion to remind listeners of an important distinction. World Water ...
(Date:3/23/2017)... ... March 23, 2017 , ... Corra Group is ... competitive pricing. Verisys through its FACIS and other services maintains the ... actions. , “We are delighted to be able to offer these various products ...
(Date:3/23/2017)... ... March 23, 2017 , ... ... New MEDDEV 2.7/1 Rev. 4 Guidance, **An FDAnews Webinar**, April 4, 2017 ... will the new EU MDR language change the way manufacturers approach CERs? ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... 23, 2017  Cornerstone Pharmaceuticals, Inc., a ... milestone today.  Following successful End-of-Phase I (EOP1) ... and Drug Administration (FDA), the Company has ... path forward to conduct pivotal trials of ... acute myeloid leukemia (AML) and pancreatic cancer. ...
(Date:3/23/2017)... March 23, 2017 Piramal ... Limited, anuncia el nombramiento de Stuart E. ... plataforma de servicios integrados completa para su base ... cargo clave en el crecimiento y ejecución de ... responsable de impulsar todas las actividades de desarrollo ...
(Date:3/23/2017)... Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK ) ... a Phase 1 study of MM-310 in solid tumors. ... novel taxane and targets the EphA2 receptor, a protein ... major tumor types, including prostate, ovarian, bladder, gastric, pancreatic ... study is an important step in evaluating MM-310,s safety ...
Breaking Medicine Technology: