PBMI Releases Results of Its 2015 PBM Customer Satisfaction Survey

PLANO, TX--(Marketwired - Apr 16, 2015) -  The Pharmacy Benefit Management Institute (PBMI) released the results of its 2015 PBM Customer Satisfaction Survey today. This survey was completed by 421 U.S. plan sponsors representing 96.6 million members. This year's report includes responses to new questions around financial reporting for both the pharmacy and medical benefit.

Since 1995, PBMI has conducted this survey as part of its mission to study best practices and drive process improvement in the PBM industry. Pharmacy benefits have become a key component of health coverage, plan sponsors and other stakeholders can use this report to make informed decisions.

"Plan sponsors considering which PBM fits their unique needs and priorities will benefit from the breadth and depth of information presented in the Customer Satisfaction Report," said Dr. Sharon Frazee, Vice President of Research and Education for PBMI.

The following are key highlights from the report:

• Overall satisfaction scores remain relatively steady, marking the sixth year with no material changes.
• The relatively modest scores indicate room for improvement. Although the average Net Promoter Score (NPS) is in line with the average for the health care industry, it remains at the lower end of the range.
• Financial transparency continues to be an area of opportunity, with only 42% of respondents reporting that their PBM relationship is completely transparent.
• Unions and employers have a higher NPS than do health plans, with the majority of the difference attributed to the number of Promoters (i.e., those identified as loyal customers based on their likelihood to recommend).
• Core PBM functions, such as ID card production and retail network options, are highly rated, while noncore services and specialty medication management functions rate somewhat lower on satisfaction.

The 2015 PBM Customer Satisfaction Report is available in electronic format for purchase. This year's report includes profiles for 11 PBMs.

Upcoming Webinar

PBMI will host a webinar to discuss the results of this survey on Tuesday, May 5, 2015 at 1:30 pm Eastern. A free copy of the report will be given to webinar registrants.

About The Pharmacy Benefit Management Institute (PBMI)

The Pharmacy Benefit Management Institute provides research and education to help health care benefit executives work with pharmacy benefit managers (PBMs) and other professionals to design prescription drug benefit programs. For PBMI news, visit www.pbmi.com.