March 17, 2016
(Washington D.C.)— As policymakers seek solutions to combat high drug prices, the Pharmaceutical Care Management Association (PCMA) is launching a new national campaign—That’s What PBMs Do—highlighting how pharmacy benefit managers (PBMs) reduce prescription drug costs and improve convenience and safety for consumers, employers, unions, and government programs.
The new campaign features a microsite that includes a video on PBMs, an interactive map showing state-specific savings, and a series of ads highlighting how the industry is:
- Lowering pharmacy costs for America’s employers and consumers;
- Protecting affordability and choice in Medicare Part D;
- Lowering pharmacy costs for Medicare seniors;
- Improving safety with specialty pharmacies;
- Delivering medicines straight to your door;
- Helping patients make informed decisions; and
- Improving adherence for chronic care patients.
“This campaign is focused on educating policymakers and opinion leaders on how PBMs reduce costs, expand access, and improve the quality of prescription drug benefits for more than 266 million Americans,” said PCMA President and CEO Mark Merritt.
PBMs are projected to save employers, unions, government programs, and consumers $654 billion — up to 30 percent — on drug benefit costs over the next decade, according to new research from Visante. PBMs reduce drug costs by:
- Offering Amazon-style home delivery of medications and creating select networks of more affordable pharmacies;
- Encouraging the use of generics and more affordable brand medications;
- Negotiating rebates from drug manufacturers and discounts from drugstores;
- Managing high-cost specialty medications; and
- Reducing waste and improving adherence.