PLANO, Texas, Dec. 04, 2017 (GLOBE NEWSWIRE) -- According to the 2017 Trends in Drug Benefit Design report by the Pharmacy Benefit Management Institute (PBMI), the use of preferred network arrangements by plan sponsors increased 47% in the last year. The report, sponsored by Takeda Pharmaceuticals, U.S.A., Inc. includes responses from 318 employer benefit leaders representing an estimated 24.7 million covered lives.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6cdd4b29-fdb5-4a0a-8d83-0058d02720a5
“Employers continue to see that managing the drug benefit is not an easy endeavor,” says Jane Lutz, Executive Director of PBMI. “Drug benefit management strategies must go beyond just trend management and move toward a more value- or performance-based view of spend on prescription medications.”
Key findings from the report include:
- Managing cost remains the primary concern for drug benefit management
- Nearly 80% of employers use consultant or broker experts to assist with drug benefit management
- Important tools used for controlling plan drug spend are cost share, reimbursement, rebates, and discounts
○41% have four or more tiers in their plan design; combined deductibles including pharmacy are becoming more popular
○59% have a pass-through pricing arrangement with their pharmacy benefit manager (PBM)
○68% use earned rebates to reduce plan spend on medication costs - Plan sponsors continue to look for more tools to manage costs
○40% have deductibles that include pharmacy, and 17% of those without a deductible are considering adding one
○38% are considering additional copayment tiers to encourage lower cost alternatives
○31% are considering the addition of a preferred network - Although costs are a concern, many programs and services are offered to help members manage their health
○70% have a behavioral or disease management program in place for depression, the number one cause of illness and disability worldwide
○76% provide controlled substance abuse programs
○83% offer specialty care programs, 75% disease management services, 58% telehealth programs, and 33% provide access to cost-sharing transparency tools for their members
Register for PBMI’s free webinar to hear results on December 6 at 1:30 p.m. EST. Click here to download the report.
About PBMI
The Pharmacy Benefit Management Institute provides research and education to help healthcare and benefits professionals work with pharmacy benefit managers to design prescription drug benefit programs. Learn more at www.pbmi.com.
Contact:
Julie Blackman
PBMI
480-730-0814