Navigation Links
Modernizing Medicaid Rx with 'Innovative' PBM Tools Will Help Kentucky Save $375 Million
Date:7/8/2011

WASHINGTON, July 8, 2011 /PRNewswire-USNewswire/ -- Governor Steve Beshear announced yesterday that most of Kentucky's Medicaid program would transition to managed care programs, saving the state $375 million. In modernizing the state's Medicaid pharmacy benefits, the Administration is relying on proven tools pioneered by pharmacy benefit managers (PBMs) to lower prescription drug costs, the Pharmaceutical Care Management Association (PCMA) said.

"Governor Beshear has done the right thing for taxpayers and for beneficiaries. Currently, the Medicaid fee-for-service program uses fewer generic drugs and pays drugstores more than double the pharmacy fees that Medicare or private insurers pay. Over the next decade, Kentucky could save $174 million – without cutting benefits or payments to doctors and hospitals – by modernizing the program's pharmacy benefits with the use of proven PBM tools," said Charles Cote, PCMA Assistant Vice President of Strategic Communications. "However, these savings could be lost if the independent drugstore lobby gets its way and guts many of the key pharmacy savings opportunities."

According to the state Department of Medicaid Services, Kentucky will now utilize "innovative programs in controlling pharmacy and medical costs" including:

  • · Implementing the use of cutting-edge e-prescribing technology;
  • · Increasing the use of more affordable generic medications; and
  • · Developing methods to achieve savings in pharmacy dispensing fees and drug acquisitions costs.

Kentucky Medicaid pays too much for pharmacy benefits because the program uses an archaic, fee-for-service approach in which state officials set payment rates and are therefore constantly lobbied to inflate them by special interests like pharmacists. To avoid this trap, most non-Medicaid drug benefits programs – 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.

Polling finds voters would rather modernize Medicaid pharmacy than cut benefits for patients or payments to doctors and hospitals. Transitioning to a more efficient and affordable pharmacy benefit model would save states across the country billions without limiting access the National Center for Policy Analysis (NCPA) announced in a new white paper, "Increasing the Cost-Effectiveness of Medicaid Drug Programs."

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 210-plus million Americans.

Follow PCMA on Twitter


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

Related medicine technology :

1. Budget Solution? Modernizing Medicaid Pharmacy Could Save Florida $473 Million
2. Novartis Pharmaceuticals Corporation Prevails in Medicaid Pricing Case Before Alabama Supreme Court
3. Four Pharmaceutical Companies Pay $124 Million for Submission of False Claims to Medicaid
4. Eon Labs Pays U.S. $3.5 Million to Settle Allegations of Submitting False Claims to Medicaid
5. Mississippi Division of Medicaid, Shared Health® Launch EHR, e-Prescribe
6. High Unemployment Rates in North Carolina Will Continue to Dictate the Decrease of Commercial Health Plan Enrollment and the Increase of Medicaid Enrollment
7. NeurogesX Receives Qutenza®-Specific J-Code From Centers for Medicare and Medicaid Services (CMS)
8. States, Federal Government Could Save $30 Billion by Managing Medicaid Pharmacy More Like Medicare and Commercial Sector Programs
9. New Poll: Voters Want to Reduce Wasteful Spending in Medicaid Pharmacy
10. PCMA: Ohios Medicaid Program Could Save $135 Million
11. PCMA: Focus on Patients, Not Profits, in Medicaid Pharmacy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/18/2017)... KALAMAZOO, Mich. , Sept. 18, 2017 /PRNewswire/ ... and OptiMed Specialty Pharmacy of Kalamazoo, Mich. ... a strategic hub service that expedites and streamlines patient ... spirometer, Spiro PD 2.0, and wellness management services.  ... a medical device used to measure lung function for ...
(Date:9/13/2017)... has been named the official orthopedic and sports medicine ... 2018 College Football Playoff (CFP) National Championship to be played ... Atlanta, Georgia . OrthoAtlanta is proud to be ... many activities leading up to, and including the national championship ... OrthoAtlanta serves ...
(Date:9/12/2017)...  Consumer reviews on the independent review site Consumer Affairs ... company for hearing aids, ranking it higher than Miracle Ear ... ... For Hearing Aids ... online store that provides high performance, state-of-the-art, German-engineered hearing aids directly ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... The American Board of ... its next President and Chief Executive Officer, succeeding Dr. James C. Puffer upon his ... July 1, 2018 until Dr. Puffer’s retirement at the end of 2018. Upon assuming ...
(Date:10/13/2017)... ... 13, 2017 , ... Apple Rehab Shelton Lakes , which specializes in ... the facility as part of a disaster drill on October 3rd. , Apple Rehab ... City Emergency Manager, as well as the Connecticut Long Term Care Mutual Aid ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Yisrayl Hawkins, Pastor ... that explains one of the most popular and least understood books in the Holy ... and puzzling descriptions that have baffled scholars for centuries. Many have tossed it off ...
(Date:10/12/2017)... ... October 12, 2017 , ... First ... compliance program management, will showcase a range of technology and learning solutions at ... (NCAL) Convention and Expo to be held October 14–18, 2017 at the Mandalay ...
(Date:10/12/2017)... Bethesda, MD (PRWEB) , ... October 12, 2017 , ... ... Award of Excellence to Carol Friedman, PhD, FACMI, during the Opening Session of AMIA’s ... 4 – 8. , In honor of Morris F. Collen, a pioneer in the ...
Breaking Medicine News(10 mins):