Navigation Links
New Report: Using Pharmacy Networks in Medicaid Could Save New York an Additional $3.7 Billion
Date:6/5/2013

Washington, DC (PRWEB) June 05, 2013

A new report estimates that leveraging additional pharmacy benefit management tools—including greater use of pharmacy networks—could save New York’s Medicaid program $3.7 billion without reducing access or the quality of benefits patients receive, the Pharmaceutical Care Management Association (PCMA) said today.

In 2011, Governor Andrew Cuomo took a step in the right direction by deciding to modernize the state’s Medicaid pharmacy program—a move that has already saved the state $425 million in 2012. However, drugstore lobbyists are attempting to undermine these reforms by preventing the use of preferred pharmacy networks and other proven cost-saving tools. For example, a new state law championed by the drugstore lobby forbids Medicaid plans from using pharmacies that offer more affordable rates on specialty medications.

“Governor Cuomo has taken the first, important steps to modernizing Medicaid pharmacy benefits, but there is much more to be done,” said PCMA President and CEO Mark Merritt. “New York could save $3.7 billion more without cutting benefits by encouraging competition among drugstores. Unfortunately, drugstore lobbyists are undermining these reforms by pushing an alternative agenda that would increase costs for patients and the Medicaid program.”

Learn more about the study and Medicaid pharmacy at MedicaidPharmacySavings.com.

Components of potential savings for New York include:

  •     Using limited pharmacy networks: In most state Medicaid programs, every drugstore in the state is entitled to participate. State Medicaid programs could achieve greater savings by using a competitive process and negotiating better discounts from select drugstores that wish to participate in a limited pharmacy network.
  •     Increasing the use of generic drugs.
  •     Negotiating market-based pharmacy dispensing fees.
  •     Encouraging the use of more affordable, preferred brands.
  •     Reducing drug diversion, polypharmacy, fraud, and waste.

Read the full story at http://www.prweb.com/releases/2013/6/prweb10804927.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Download Merrill DataSite's Report: Best Practices of the Best M&A Dealmakers - Opportunity & Risk: Uncovering and Winning the Distressed Deal
2. Register to download Merrill DataSite's report: Monthly M&A Insider, March 2013
3. Report: Communications technology among tools needed to aid miner safety
4. Federal NuvaRing Blood-Clotting Lawsuits Report: Resource4thePeople Updates Consumers with News That First Bellwether Trial Rescheduled to July
5. New report: State action on Affordable Care Acts 2014 health insurance market reforms
6. New report: Employer health insurance premiums increased 62 percent from 2003 to 2011
7. Report: 39 States on Pace for Obesity Rates Above 50%
8. Report: Cancer now leading cause of death in US hispanics
9. New report: The ACAS PCIP serving as a bridge; High-risk pools not a long-term solution
10. Report: Strategies to prevent noise-induced hearing loss, tinnitus in soldiers
11. PolyU Scientists Help Identify Genes Causing Myopia
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/17/2019)... ... September 17, 2019 , ... Caravan Health ... organization (ACO) in the country, the company announced today. High-performing community health systems ... quality and increase cost efficiency. This opportunity is open to those new to ...
(Date:9/17/2019)... , ... September 17, 2019 , ... ... availability of the newly updated International Audit Protocol Consortium (IAPC) EHS audit protocol ... protocols to understand the scope of their EHS regulatory obligations and rapidly collect, ...
(Date:9/17/2019)... (PRWEB) , ... September 17, ... ... host the October 18 "Pacifica Experience" Open House day on Pacifica's Lambert ... doctoral degree programs in Depth Psychology, the Humanities, Clinical Psychology, Counseling Psychology, ...
(Date:9/11/2019)... (PRWEB) , ... September 12, 2019 , ... “Heart Seizures”: ... with diagnosed coronary artery disease as he hopes to prevent anyone from having it ... of published author John Saltwick, a writer who was diagnosed with coronary artery disease. ...
(Date:9/11/2019)... ... 11, 2019 , ... The 2019 Minnesota Anatomic Complex Knee ... Mall of America Radisson Blu. Four experts from Twin Cities Orthopedics (TCO), including ... conference, which brings together more than 100 national and international orthopedic surgeons for ...
Breaking Medicine News(10 mins):
(Date:9/14/2019)... ... 13, 2019 , ... The Allergenic Products Advisory Committee of the Food and ... data, to recommend approval of a standardized oral immunotherapy (OIT) product for peanut allergy. ... as AR101. , The FDA would require a Risk Evaluation and Mitigation Strategy (REMS) ...
(Date:9/14/2019)... ... September 14, 2019 , ... ... plaintiffs living with peritoneal mesothelioma, a jury in Middlesex County found Johnson & ... of plaintiffs alleging their mesotheliomas were caused by asbestos-containing J&J talc products. ...
(Date:9/12/2019)... ... September 12, 2019 , ... ... help make the services of CPESN’s clinically integrated network of more than 2,400 ... CPESN USA’s participating pharmacies provide high quality clinical service programs that will now ...
Breaking Medicine Technology: