PBMs promote savings in Part D

A report released recently by Medicare Trustees clocks Part D plan costs at 13 percent lower than anticipated for 2012 and beneficiary premium payments at 14 percent below previous projections.

Such dips are representative of considerable savings, most likely due to Medicare Part D plan tools such as preferred pharmacy networks and generic alternatives, or so the Pharmaceutical Care Management Association argues.

"PBMs promote generics, create affordable pharmacy networks, and use other tools to reduce costs in Medicare Part D," said Mark Merritt, PCMA president and CEO, in a prepared statement. "Policymakers should promote greater use of these tools and reject rules and regulations that would make it harder to save money in Part D."

According to a complementary PCMA report, wielding pharmacy networks alongside physician and hospital units could save Medicare an additional $35 billion over the course of the next decade while still preserving pharmacy access standards.

The latest study, conducted by Hart Research Associates, parrots similar sentiments, finding that most Medicare Part D seniors (in total, there are 9.5 million seniors currently enrolled in plans with preferred networks) are satisfied with their preferred plan.   

Key findings of the current study include:

All information and data courtesy of PCMA. Presentation by PhysBizTech.

With satisfaction significant and the possible cost-savings comparably abundant, PCMA researchers and officials opine that market capitalization should begin immediately.

Find the study in its entirety here.