PCMA launches new PBM advertisement materials
The PCMA has launched two new videos that are a part of the “That’s What PBMs Do” campaign. PCNA estimated that PBM are expected to save approximately $654 billion, or approximately 30 percent, for patients, unions, government programs and employers over the next 10 years in relation to drug benefits costs.
PBMs work in developing home delivery systems for medications and networks of affordable pharmacies. PBMs also work with negotiating rebates with manufacturers, managing high-cost specialty medications and encouraging the use of generic medications.
"In health care, people want better care and lower costs. Specialty pharmacies and preferred pharmacy networks accomplish both," PCMA President and CEO Mark Merritt said.
In an analysis of the Part D Medicare program, PCMA noted that approximately of 75 percent of beneficiaries choose preferred pharmacy plans with discounts and easy accessibility. A Milliman study concluded that preferred pharmacies could save federal costs associated with the program by approximately $9.3 billion over 10 years.
PBMs also serve specialty pharmacies that offer more complicated and expensive medications.