Pharmacy benefit managers are at the forefront of implementing innovative contracting techniques that better align the cost of medications with their value. By offering additional tools to manage specialty drugs, including the use of specialty pharmacies, PBMs and payers are improving the quality and continuity of care patients receive, while ensuring they derive the greatest value from their medications. Over the next 10 years, PBMs and specialty pharmacies will save an estimated total of $654 billion on drug costs for health plan sponsors.
The PCMA PBM Policy Forum is designed for policy makers and staff from Capitol Hill and the Administration, as well as healthcare and drug industry advocates from think tanks, patient advocacy groups, and industry trade associations. The PCMA Policy Forum 2016 hosted almost 200 people from more than 100 companies, organizations, and government offices.
The 2016 Policy Forum focused on market-based solutions to lower the cost of prescription drugs, such as the use of biosimilars, specialty pharmacies, and value-based contracting, as well as managing costs in the medical benefit. The forum featured leaders from the FDA, CMS, the Hill, Cigna, CVS Health, Express Scripts, and OptumRx.