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:9/25/2017)... 2017   Montrium , an industry leader ... the IQPC Trial Master Files & Inspection Readiness ... EastHORN Clinical Services has selected eTMF Connect ... management. EastHORN, a leading European contract research organization ... transparency to enable greater collaboration with sponsors, improve ...
(Date:9/22/2017)... Sept. 22, 2017 AVACEN Medical (AVACEN) announced ... now successfully helping those with the widespread pain associated ... diagnosed Amanda in Essex, England ... my hair, experiencing no sleep at all, tremendous pain, ... I cannot recommend [the AVACEN 100] enough, how this ...
(Date:9/18/2017)... R.I. , Sept. 18, 2017 /PRNewswire/ ... the fields of bioinformatics and immune engineering, ... a protective avian influenza A (H7N9) vaccine. ... distantly related to seasonal influenza and presents ... rely on prior exposure to be effective. ...
Breaking Medicine Technology:
(Date:10/12/2017)... ... 2017 , ... Leading pediatric oncology experts at Children’s National Health System ... Congress of the International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired by ... and Blood Disorders at Children’s National, and Stephen P. Hunger, M.D., Chief of ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... of Michigan’s 2017 Best and Brightest in Wellness® by Best and Brightest. OnSite ... program on Friday, Oct. 20 from 7:30 a.m. to 2 p.m. at the ...
(Date:10/12/2017)... ... 2017 , ... In the United States, single-family home owners ... New York, New Jersey, Massachusetts, Texas, Virginia, Connecticut, and California—the average is $7,000 ... property-tax rates, which contributes to the relatively lower cost of living in places ...
(Date:10/12/2017)... Washington, D.C. (PRWEB) , ... October 12, 2017 ... ... Company, Cal Dining at the University of California Berkeley, and other leading institutions ... leverages the buying power of institutions to change the way animals are raised ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... its executive staff with the addition of industry sales leader, Thomas (Tom) Slott, ... develop the national distribution and sales network, direct the efforts of the surgical ...
Breaking Medicine News(10 mins):