Navigation Links
Budget Solution? Modernizing Medicaid Pharmacy Could Save Florida $473 Million
Date:3/10/2011

WASHINGTON, March 10, 2011 /PRNewswire-USNewswire/ -- As Florida legislators seek ways to reduce Medicaid spending, they should start by transitioning the entire pharmacy benefits program from the archaic fee-for-service model to the more efficient model used in some parts of the state.

A recent study finds that the program could save $473 million over the next decade by modernizing all of its pharmacy benefits more like those in Medicare and commercial plans. Governors Chris Christie (R-NJ), Rick Perry (R-TX), and Andrew Cuomo (D-NY) have already included similar budget proposals to reduce prescription drug spending in their own states.

"Currently, most of Florida's Medicaid program uses an archaic approach to drug benefits that uses fewer generic drugs and pays more than Medicare and private insurers for pharmacy benefits," said Pharmaceutical Care Management Association President and CEO Mark Merritt. "Over the next decade, Florida could save $473 million – without cutting benefits or payments to doctor and hospitals – by modernizing the entire program's pharmacy benefits."

Like most state Medicaid programs, Florida pays too much for prescription drug benefits because it uses a fee-for-service approach in which state officials set payment rates and are therefore constantly lobbied to inflate them by special interests. To avoid this trap, nearly every other drug benefit program – like those offered by Medicare, employers and unions – rely upon independent, third party pharmacy benefit experts to negotiate competitive rates with pharmacies. These programs also reduce costs by employing cutting-edge, market-proven strategies to increase the use of generics. Recent polling finds voters would rather modernize Medicaid pharmacy than cut benefits for patients or payments to doctors and hospitals.

Governors Christie, Perry, and Cuomo recently announced their 2012 budgets will include proposals to manage prescription drug benefits more like those in other, more affordable Medicare and private sector programs, with a projected combined savings of $475 million.

PCMA represents the nation's pharmacy benefit managers (PBMs), which improve affordability and quality of care through the use of electronic prescribing (e-prescribing), generic alternatives, mail-service pharmacies, and other innovative tools for 200-plus million Americans.


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. NACDS, NCPA Provide Insights to Governors and State Medicaid Directors Confronting Medicaid Budgetary Challenges
2. Medical Affairs Budget & Staffing Remain Top Challenges Despite Increased Funding
3. The Centers For Medicare and Medicaid Services Issues Advance Guidance to Part D Plan Sponsors Allowing the Use of Generic Sampling as Medicare Part D Drug Utilization Management Tool.
4. Texas Health and Human Services Commission: Modernize Medicaid Pharmacy to Save State $82 Million
5. PCMA: Florida Could Reduce $462 Million in Wasteful Medicaid Pharmacy Spending
6. PCMA: Focus on Patients, Not Profits, in Medicaid Pharmacy
7. PCMA: Ohios Medicaid Program Could Save $135 Million
8. New Poll: Voters Want to Reduce Wasteful Spending in Medicaid Pharmacy
9. States, Federal Government Could Save $30 Billion by Managing Medicaid Pharmacy More Like Medicare and Commercial Sector Programs
10. NeurogesX Receives Qutenza®-Specific J-Code From Centers for Medicare and Medicaid Services (CMS)
11. High Unemployment Rates in North Carolina Will Continue to Dictate the Decrease of Commercial Health Plan Enrollment and the Increase of Medicaid Enrollment
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/4/2017)... 4, 2017  South Korean-based healthcare product Development Company ... "cprCUBE" on Kickstarter. The device will educate the user ... with better efficiency compared to the dated and pricey ... on efficacy of the compression for a more informed ... goal to raise $5,000. ...
(Date:10/4/2017)... Mass. , Oct. 4, 2017 ... of single-use, self-contained, illuminating medical devices, today announced ... National Health Surveillance Agency (or Agência Nacional de ... The first single-use, cordless surgical retractor with integrated ... provides optimal access, illumination and exposure of a ...
(Date:10/2/2017)... 2017  Eli Lilly and Company (NYSE: ... third quarter of 2017 on Tuesday, October 24, 2017. ... day with the investment community and media to further ... call will begin at 9 a.m. Eastern time. Investors, ... webcast of the conference call through a link that ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the Mountains to the Mission ... lost souls in the Philippines. “The Journey: From the Mountains to the Mission Field” ... the Bible. She has taught all ages and currently teaches a class of ladies ...
(Date:10/12/2017)... New Orleans, LA (PRWEB) , ... October 12, 2017 , ... ... fitness centers in the U.S., announced today its plans to open a flagship location ... club will occupy the former Rooms To Go store next to Office Depot in ...
(Date:10/12/2017)... ... , ... Asante, a nationally recognized health system in southern ... home health joint venture through an agreement, effective October 1, 2017, to create ... health company with Asante, delivering clinically integrated care, for the past eight years. ...
(Date:10/12/2017)... ... 12, 2017 , ... Leading pediatric oncology experts at Children’s National Health ... Congress of the International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired ... Cancer and Blood Disorders at Children’s National, and Stephen P. Hunger, M.D., Chief ...
(Date:10/12/2017)... BALTIMORE (PRWEB) , ... October 12, 2017 , ... ... average of $3,296 in property taxes a year. In some states—like New York, ... higher. , By contrast, many overseas retirement havens have extremely low property-tax rates, ...
Breaking Medicine News(10 mins):