Navigation Links
PCMA: Study Credits PBM Tools with Reducing Prescription Drug Spending Growth
Date:7/28/2011

WASHINGTON, July 28, 2011 /PRNewswire-USNewswire/ -- Prescription drug spending growth slowed from an estimated 5.3 percent in 2009 to 3.5 percent in 2010, according to new data released today by the Centers for Medicare and Medicaid Services (CMS) and reported on in Health Affairs. Researchers credit the slowdown in spending growth to pharmacy benefit management tools like tiered copays shifting medication use toward lower cost generic drugs. Pharmaceutical Care Management Association (PCMA) President and CEO Mark Merritt released the following statement today on the new data:

"This new research confirms that innovative PBM tools – including incentivizing the use of generic medications – lower costs for consumers and payers. Payers and policymakers alike should explore broader use of PBMs' cost-saving tools and reject policies that make it harder to reduce prescription drug costs.

"The cost explosion in Medicaid pharmacy – which unlike Part D and the commercial market rejects many PBM tools – is a stark reminder of the need to modernize pharmacy benefits.

"As Medicaid expands under the health care law, policymakers should explore the Part D model for consumer-friendly ways to reduce wasteful spending in Medicaid pharmacy. According to a recent report, states and the federal government could save $33 billion – without cutting benefits for patients or payments to doctors and hospitals – by bringing Medicaid pharmacy benefits into the 21st century."

Key data points from today's Health Affairs report include:

  • Prescription drug spending growth slowed from an estimated 5.3 percent in 2009 to 3.5 percent in 2010.
  • "This deceleration resulted from continued slow growth in the use of drugs and the ongoing change in the mix of drugs purchased," according to CMS.
  • The generic dispensing rate is projected to have increased to 69 percent in 2010, up from 66 percent in 2009.
  • "Through tiered copays and other mechanisms, health plans have continued to shift medication use toward less-costly generic drugs," according to CMS.

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.

Follow PCMA on Twitter


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

Related medicine technology :

1. PCMA: Anti-Fraud Group Spotlights Policies that Promote Health Care Fraud and Abuse
2. PCMA: Mississippis Secret Prescription Drug Tax Will Raise Costs
3. PCMA: Generics, Mail-Service Pharmacy Recognized as Ways to Reduce Costs for TRICARE Program
4. PCMA: Some Drugmakers Lobbying to Limit E-Prescribing of Generics, Drug Safety Checks
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. PCMA: Independent Drugstore Lobby Continues Disclosure Double Standard Transparency Campaign
9. Marshall Edwards Announces Publication of Pre-Clinical Study Showing Activity in Chemotherapy-Resistant Ovarian Cancer Stem Cells
10. Micell Technologies Completes Enrollment in DESSOLVE II Study of the MiStent® Drug-Eluting Coronary Stent
11. New Study: Mail-Service Pharmacies Improve Outcomes for Patients Using Cholesterol Medications
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... 27, 2017 Summary This ... Bayer and its partnering interests and activities since 2010. ... an in-depth insight into the partnering activity of one of ... company reports are prepared upon purchase to ensure inclusion of ... The report will be delivered in PDF format within ...
(Date:3/27/2017)...  Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or the ... of common stock in an underwritten public offering under ... Securities and Exchange Commission (the "SEC"). The offering is ... be no assurance as to whether or when the ... size or terms of the offering. Cryoport also expects ...
(Date:3/27/2017)... CHICAGO , March 27, 2017  A ... Educators (AADE) found that Medicare,s Competitive Bidding Program (CBP) ... diabetes testing supplies. The lack of choice forces beneficiaries ... can have dire health consequences. AADE,s ... reports by AADE and others pointing out the inherent ...
Breaking Medicine Technology:
(Date:3/28/2017)... City, NJ (PRWEB) , ... March 28, 2017 ... ... American Camp Association’s Tri-State Camp Conference in Atlantic City March 13-16, was a ... and their team of professional staff discussed strategies for preventing outbreaks among camp ...
(Date:3/28/2017)... Francisco, CA (PRWEB) , ... March 28, 2017 , ... ... treatment, is proud to announce a new blog post about women’s hair loss. Although ... suffer from hair loss as they age. Menopause or genetics can be two reasons ...
(Date:3/28/2017)... , ... March 28, 2017 , ... Thank you to ... on February 8-10. , This event was exclusive to providers and offered an ... The meeting took place at the Manchester Grand Hyatt where attendees gathered for a ...
(Date:3/28/2017)... ... March 28, 2017 , ... “A Prophets Bones”: a thrilling adventure that reveals the ... , “There were things that his parents and teachers had asked of him that he ... he was going to defy the Almighty Creator. There were some who would have felt ...
(Date:3/27/2017)... ... 27, 2017 , ... New patients who have sleep apnea in ... or without a referral. Sleep apnea is often left untreated because patients are not ... and chronic snoring. , Dr. Braasch seeks to raise awareness of sleep apnea ...
Breaking Medicine News(10 mins):