PLANO, Texas, Sept. 05, 2017 (GLOBE NEWSWIRE) -- The Pharmacy Benefit Management Institute (PBMI) released its 2017 PBM Customer Satisfaction Report today. Results show a slight increase in overall satisfaction, among plan sponsors: 7.9 out of 10 compared to 7.8 in 2016. The report includes responses from 585 plan sponsors representing more than 60 million lives. Health benefits executives can use this report to help research, select, and manage pharmacy benefit manager (PBM) services for their drug benefit programs.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6cdbafb2-c8af-4948-a461-73eec921206e
“We’ve tracked the market now for more than twenty years and watched pharmacy benefit managers (PBMs) evolve in the products and services that they provide to their customers. As the pharmacy benefit landscape continues to become more complex and competitive, customer satisfaction is more important now than ever before. Alignment of goals and programs that provide cost savings as well as quality of service is paramount,” says Jane Lutz, Executive Director, PBMI.
Highlights from the report include:
- Eighty-four percent of respondents say their PBM’s goals align with theirs
- Retail network options remained the highest ranked core PBM function (8.5)
- Formulary management was rated 7.8 for noncore PBM services
- Delivery of promised services, utilization management programs, and financial reporting in the pharmacy benefit tied at 7.9 for the highest rated specialty management function
- In the category of service dimensions, meets financial guarantees was rated the highest at 8.1, a slight increase from last year (8.0)
The 2017 PBM Customer Satisfaction Report is available for purchase in electronic format. This year’s report includes detailed profiles for 14 PBMs.
PBMI will host a live webinar to review the results on September 7th at 1:30 pm Eastern. Register for the webinar here.
The Pharmacy Benefit Management Institute (PBMI) is the preeminent thought leader in research and education in pharmacy management. PBMI helps healthcare and benefits professionals work with pharmacy benefit managers to design prescription drug benefit programs.