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:3/28/2017)... ... March 28, 2017 , ... Award-winning medical group Allied ... as new board chair for Orange County health care system CalOptima Friday. CalOptima ... soon-to-be former chair Mark Refowitz’s term, which runs through June 30 of this ...
(Date:3/28/2017)... San Francisco, CA (PRWEB) , ... March 28, 2017 , ... ... million people suffering from acne, access to quality care can be limited while the ... skincare company that offers customized prescription acne care for every customer online, today released ...
(Date:3/28/2017)... ... , ... The Executives, Staff & Clients of MGE: Management Experts joined forces ... Literacy Campaign at their Semi-Annual Graduation and Fundraiser Event at MGE’s St. Petersburg Office. ... number 14 internationally in literacy. Statistically, a direct relation can be a found between ...
(Date:3/28/2017)... Angeles, CA (PRWEB) , ... March 28, 2017 ... ... credential, which will be offered by the American Association of Integrative Medicine and ... presentations for healthcare providers at the AutismOne 2017 Conference in Colorado Springs. , ...
(Date:3/28/2017)... ... March 28, 2017 , ... ... Camp Conference in Atlantic City March 13-16, was a busy spot this year. ... professional staff discussed strategies for preventing outbreaks among camp communities during the upcoming ...
Breaking Medicine News(10 mins):
(Date:3/27/2017)... STUTTGART, Germany , March 27, 2017 /PRNewswire/ ... provide over 7,000 attendees and more than 600 ... learn, and discover opportunities and solutions that will ... - 6 April 2017 at the Messe Stuttgart, ... is the preeminent medical technology platform showcasing the ...
(Date:3/27/2017)... MATEO, Calif. , March 27, 2017 /PRNewswire/ ... been acquired by Ethicon, a division of Johnson ... Management System for the treatment of gastro-esophageal reflux ... magnetic sphincter augmentation (MSA) technology and the procedure ... medical centers. Torax Medical was founded ...
(Date:3/27/2017)... VANCOUVER, British Columbia, March 27, 2017  Sophiris ... "Company" or "Sophiris"), a clinical late-stage biopharmaceutical company ... with urological diseases, today reported fourth quarter and ... highlights. Key Corporate Highlights: ... for Localized Prostate Cancer. During 2016, the Company ...
Breaking Medicine Technology: