Small businesses are vital to the American economy and represent over 40% of the country’s GDP. They also face different health care challenges than bigger companies. The services that pharmacy benefit managers (PBMs) provide help make offering drug coverage for their workers possible. And a national survey shows that small businesses are highly satisfied with the benefits, coverage, and services provided by their PBMs.

Health care policy research firm Healthsperien conducted the nationwide survey of 1,035 small and large employers. Small businesses, defined as fewer than 1,000 employees, comprised 62% of the sample population.

• Small Businesses Are Confident Decision-Makers: 95% of small employers feel confident in their ability to make decisions regarding prescription drug benefits correctly.
• PBMs Lower Drug Costs: 92% are satisfied with their PBM’s ability to lower drug costs by negotiating discounts from drug companies, and 93% are satisfied with their PBM’s ability to negotiate discounts from pharmacies.
• Data Empowers Small Employers: 94% are satisfied with their PBM’s ability to provide detailed data and analytics on drug spending and utilization.
• PBMs are Providing Needed Transparency: 93% are satisfied with the level of transparency provided in their contracts by their PBM, and 92% are satisfied with the transparency of the PBM administrative fees.

Key findings from the full survey can be found HERE.