Pharmacy Benefit Managers Drive Generic Utilization
PBMs create formularies with preferred generic drug tiers to incentivize use of generics.
PBMs create formularies with preferred generic drug tiers to incentivize use of generics.
PBMs create formularies with preferred generic drug tiers to incentivize use of generics.
PBMs create formularies with preferred generic drug tiers to incentivize use of generics.
What are generic drugs?
A generic drug is the same as a brand-name drug in dosage, safety, effectiveness, strength, stability, and quality, as well as in the way it is taken and should be used.
Average Out-of-Pocket Cost-Sharing
Generics Save People Money
The steady increase in use of generic drugs in Medicare Part D has helped produce lower than expected costs for taxpayers and beneficiaries.
In Medicaid managed care programs, pharmacy benefit managers employ a strategy of maximizing the use of generic drugs including the higher value generic alternatives, which leads to lower drug costs.
