Survey: Most employers believe federal oversight would boost drug costs

Recent survey results conducted by North Star Opinion Research and released by an industry association confirm that 60 percent of U.S. employers believe new federal oversight would lead to higher prescription-drug costs.

North Star Opinion Research survey 400 small business-owners and medium-to-large business executives.
 
The Pharmaceutical Care Management Association (PCMA), based in Washington, D.C., said business owners would prefer that prescription drugs be regulated by the private sector, deeming government intervention likely to increase — not lower — medicine costs.
 
“Employers’ concerns about high drug prices are real, but so are their fears that new government mandates – however well-intended – would make things worse. They believe the answers lie in the private sector,” PCMA President and CEO Mark Merritt said.
 
The polling firm found that over half (54 percent) of employers consider overall expense reduction a top priority, and overwhelmingly (by a 2-to-1 margin) consider private companies better able to manage pharmacy benefit programs.
 
Three out of five respondents indicated that government involvement would boost prices, 18 percent thought they would lower prices and 22 percent predicted no change.
 
Regardless of pricing fluctuations, 91 percent of employers expressed satisfaction with their current plans, with even more reporting that their employees are content as well. Of the three-quarters (76 percent) who utilize mail-service pharmacy delivery, 95 percent said staffers are satisfied.