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Employers Demanding Transparency from PBMs

02/04/10

  01:14:09 pm, by MedBen5   , 189 words,  
Categories: Prescription, Discounts, Health Plan Management

Employers Demanding Transparency from PBMs

Employee Benefit News reports that rising prescription drug costs are spurring employers to push pharmacy benefit managers (PBMs) harder than ever for greater transparency and maximum rebates on generic and brand-name medications. But for MedBen clients, such cost control methods are nothing new.

MedBen has long insisted on full pricing disclosure with its prescription plan, and all discounts and paid rebates go to the client, saving money over traditional Rx programs. On average, employers using the MedBen prescription plan with a focus formulary experience cost trends of 5% lower than national, while more open plans experienced an average increase of 5% in plan amount paid.

As prescription drug usage increases, its proportionate cost relative to overall health care spending goes up as well. But on the flip side, the sheer variety of Rx options available nowadays means a higher likelihood that a lower-price generic alternative exists for a brand-name medication. MedBen’s RxEOB website, available to clients using Pharmacy Data Management (PDMI) as their PBM, is a great resource to research medications and search for equivalent, lower-cost drugs. Just go into MedBen Access and click on your name under “My Rx Claims".

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