Navigation Links
PCMA: Medicare Trustees Report Shows PBMs are Delivering Savings in Part D
Date:5/31/2013

WASHINGTON, May 31, 2013 /PRNewswire-USNewswire/ -- According to a report released today by the Medicare Trustees, Part D costs in 2012 were 13 percent lower, while beneficiary premium payments were 14 percent lower than previously projected.  The tools utilized by Medicare Part D plans—including preferred pharmacy networks and generic alternatives—are delivering savings, the Pharmaceutical Care Management Association (PCMA) said today.

"PBMs promote generics, create affordable pharmacy networks, and use other tools to reduce costs in Medicare Part D," said PCMA President and CEO Mark Merritt . "Policymakers should promote greater use of these tools and reject rules and regulations that would make it harder to save money in Part D."

While preferred physician and hospital networks have long been used to reduce costs, there is a growing understanding of the cost-savings potential of pharmacy networks. Today, there are more drugstores in the U.S. than McDonald's, Burger Kings, Pizza Huts, Wendy's, Taco Bells, Kentucky Fried Chickens, Domino's Pizzas, and Dunkin' Donuts combined, creating a highly competitive environment.  

Greater use of preferred and limited pharmacy networks could save Medicare an additional $35 billion over the next ten years while meeting the program's pharmacy access standards, according to a recent study. More than 40% of Part D seniors (9.5 million) are currently enrolled in plans with preferred networks.

A new survey from Hart Research Associates also finds that Medicare Part D seniors are overwhelmingly satisfied (85%) with their preferred network plan. Key findings from the survey of seniors about their Medicare Part D preferred network plan include:

  • Four in five seniors (80%) would be disappointed if their preferred network plan is eliminated.
  • Seniors are overwhelmingly satisfied (85%) with their preferred network plan.
  • The cost of premiums (50%) and copays (48%) are the most important considerations for seniors in selecting their preferred pharmacy plan. 
  • Increased costs is the most common reason seniors would be disappointed if their preferred network plan is eliminated.
  • Seniors are very satisfied with the convenience of pharmacies (81%), the number of pharmacies in their network (74%), and the prescription medications available through their plan (75%).
  • Cost is the top factor for seniors regardless of income, age, number of medications, and distance from their drugstore.
  • Only 8% of seniors listed the number of pharmacies in the network as an important consideration.

Click here to read the survey.

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©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. PCMA: Drugstore Lobbys Bill Would Raise Prescription Drug Costs, Increase Wasteful Spending
2. PCMA: New Report Shows Drugstore Lobby Agenda Raises Rx Costs for Small Businesses, Government Programs
3. PCMA: New Report Shows Anti-PBM Laws Could Raise Health Care Costs for Oklahoma Businesses, Consumers, Government Programs
4. PCMA: The Drugstore Lobby (Again) Looks to Avoid Fraud and Abuse Detection
5. PCMA: 88 U.S. Representatives Urge USPS to Preserve Six Day Delivery of Mail-Service Pharmacy
6. PCMA: Part D Plans and PBMs Continue to Deliver Savings in Medicare
7. PCMA: New Study Finds Generic Medications Saved $1 Trillion Over the Last Decade
8. North Carolina Business Owners At Risk Because Of Defective Medicare Bidding Program
9. Poll: Over One Million Seniors Have Problems with Medicare Preferred Pharmacy Drug Plans
10. CCS Medical Moves Forward as Medicare Winner
11. National Patient Advocate Foundations Annual Capitol Hill Briefing Focuses on Patient Access Barriers to Life-Saving Medicines Placed on Specialty Tiers by Commercial Insurance Plans and Medicare
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... PUNE, India , May 27, 2016 ... in the instances of hypertension is driving ambulatory blood ... muscles lose their elasticity and their ability to respond ... blood pressure. This condition can lead to various cardiovascular ... and peripheral vascular disease. These diseases are growing in ...
(Date:5/27/2016)... -- The healthcare sector is large and ... falling under its umbrella.  A rather overlooked sector are ... about, these healthcare companies are still trying to prove ... by far the largest consumer of the healthcare market ... Nutranomics Inc. (OTC: NNRX), KollagenX Corp. (OTCQB: KGNX), Bioelectronics ...
(Date:5/26/2016)... , May 26, 2016   ... software and analytics, network solutions and technology-enabled ... announced it entered into a strategic channel ... of outpatient software solutions and revenue cycle ... specialty hospitals and rehabilitation clinics to optimize ...
Breaking Medicine Technology:
(Date:5/27/2016)... ... May 27, 2016 , ... In response to meager public ... unaware of the plight of aphasia. In collaboration with the American Aphasia Association, ... , The link between stroke and aphasia is relatively unknown, but through collaboration ...
(Date:5/27/2016)... ... May 27, 2016 , ... Aimed ... by inspiring human interest stories, courtesy of leaders in the nursing and health ... the industry, from leading advocates and associations—namely Jones & Bartlett Learning. , Jones ...
(Date:5/27/2016)... (PRWEB) , ... May 27, 2016 , ... ... in scholarships to students studying complementary medicine. Allison Outerbridge is this year’s ... her award on May 18 at the university’s Student Leadership Awards ceremony. , ...
(Date:5/26/2016)... ... 26, 2016 , ... Despite last week’s media reports hinting at a June ... wait until March 2017 for an interest rate increase, according to Rajeev Dhawan of ... , “The Federal Open Market Committee (FOMC) dot charts are of interest to the ...
(Date:5/26/2016)... ... , ... W.S. Badger Co. Inc ., the maker of certified organic ... Works Award for its use of effective workplace strategies to increase business and employee ... by the Families and Work Institute (FWI) and the Society for Human Resource Management ...
Breaking Medicine News(10 mins):