WASHINGTON, Sept. 27 /PRNewswire-USNewswire/ -- URAC President and CEO Alan P. Spielman presented testimony Sept. 26 about the development of URAC's Pharmacy Benefit Management and Drug Therapy Management standards to a subcommittee of the New Hampshire House Committee on Executive Departments and Administration.
The subcommittee is currently considering New Hampshire House Bill 561, which would regulate the practice of pharmacy benefit management and contracts for pharmacy benefit management. Spielman's testimony offered insight into the comprehensiveness of URAC's new accreditation, particularly in the key areas of interest for regulators--clinical focus, consumer and client disclosures, and safeguards to assure that pharmacy network management protects patient safety and is based on solid contracting practices. A transcript of the testimony may be found at http://www.urac.org/programs/pbm.aspx.
Pharmacy benefit management is a relatively young health care management segment, but has grown rapidly as more health care dollars are spent on prescription drugs. In recent years, it has been the subject of increased interest from state legislatures, regulators and the courts. Independent, third-party accreditation is valuable as it enables organizations to voluntarily demonstrate excellence.
Nearly 80 percent of Americans receive their prescription medications through pharmacy benefit management companies, and one in every five health care dollars is spent on prescription drugs. URAC's Pharmacy Benefit Management Accreditation Standards are the only national standards for the design and operation of pharmacy benefit management programs designed to assure access to drugs and pharmacies, assure patient safety, and manage use of drugs by patients.
"With the advent of consumer-focused health care, where patients make more decisions in medical benefits and services, and the continued controversy and confusion around pharmacy benefit management, the time is right for these national accreditation standards that measure pharmacy benefit management quality and provide an evaluative tool for customers of pharmacy benefit management organizations," Spielman said.
To read more go to: http://www.urac.org/programs/pbm.aspx
URAC, an independent, nonprofit organization, is well-known as a leader in promoting health care quality through its accreditation and certification programs. URAC offers a wide range of quality benchmarking programs and services that keep pace with the rapid changes in the health care system, and provide a symbol of excellence for organizations to validate their commitment to quality and accountability. Through its broad-based governance structure and an inclusive standards development process, URAC ensures that all stakeholders are represented in establishing meaningful quality measures for the entire health care industry. For more information, visit http://www.urac.org.
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