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News Releases - Archive
2006:
Last Call for Rx Benefit Innovation Award Entries PBMI Drug Benefit Conference To Address Complex Industry Issues Research Shows PBM Transparency Influences Employer Satisfaction Pharmacy Benefit Management Institute Recognizes Innovation in Drug Benefit Industry Drug Benefit Experts Invest in Pharmacy Benefit Management Institute PBMI Drug Management Conference Highlights Medicare Part D Issues SCOTTSDALE, Ariz, (December 13, 2006) –The Pharmacy Benefit Management Institute (PBMI) is accepting final submissions for its 5 th annual Rx Benefit Innovation Awards, which showcase innovative solutions to managing cost and quality in drug benefit programs. The deadline for submitting nominees is December 31, 2006. “Nominees may be employers and other sponsors of drug benefit programs, pharmacy benefit managers (PBMs), or any other organization involved in the delivery of drug benefit programs,” says Dana H. Felthouse, MBA, president of PBMI. “We want to recognize organizations that have addressed drug benefit program challenges with new and different solutions, and achieved positive, measurable results.” Award recipients will be honored at PBMI's 12 th annual Prescription Drug Utilization Management Conference to be held February 21-23, 2007 at the Pointe Hilton Tapatio Cliffs Resort in Phoenix. The conference, which draws more than 400 human resource executives, health plan executives, pharmacy directors, benefits consultants and pharmacy benefit managers, is dedicated to curbing costs and maximizing quality of drug benefit programs. Award entries need to include a letter to PBMI describing a statement of need or opportunity, target audience, objectives, implementation plan, metrics, and results. Supporting materials, such as member education materials, news releases, news clippings or letters of support from colleagues, customers or members, may be included. Award recipients include AmeriHealth Mercy/Perform Rx, Cingular Wireless, Cypress Care, Catalyst Rx, ePocrates, Express Scripts, HR Policy Association Pharmaceutical Purchasing Coalition, Medco Health Solutions, Memorial Health System, Prescription Solutions, and the University of Michigan. Additional information on submission process and past recipients is available at http://www.pbmi.com/awards.asp. Information on PBMI's 2007 Drug Benefit Conference is available at http://www.pbmi.com/conference.asp. The Pharmacy Benefit Management Institute provides research, continuing education, publications and Web resources that help health care benefit executives work effectively with their pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at http://www.pbmi.com/. SCOTTSDALE, Ariz, (November 27, 2006) – Drug pricing methodologies, accreditation of pharmacy benefit managers, contracting in an era of transparency, Medicare Part D, value-based drug benefit designs and emerging technologies will be among many of the complex issues discussed by industry experts at the 12 th annual Prescription Drug Utilization Management Conference hosted by the Pharmacy Benefit Management Institute (PBMI.) The meeting, dedicated to curbing costs and maximizing quality in drug benefit programs, will be held Feb. 21-23, 2007 at the Pointe Hilton Tapatio Cliffs Resort in Phoenix . “Our programming goal is to showcase innovation in the industry to help those responsible for drug benefit programs make the best decisions for their organizations, says Dana H. Felthouse, MBA, president of PBMI. “The conference also is a forum for sharing best practices. Many sessions feature case studies with proven strategies attendees can implement in their own organizations to manage costs and increase the value of the drug benefit.” PBMI's conference programming addresses the needs of employers and other organizations that sponsor drug benefit programs for employees, retirees, union groups, trusts or health plan members. In addition to 10 general sessions, the 2007 PBMI conference will feature 12 breakout sessions organized into three tracks: cost savings strategies, industry trends, and special populations. An educational forum café will be introduced to encourage networking and allow attendees to collect research reports, monographs and other reference materials on drug benefit topics. Agenda Available On Line A complete agenda, speaker information, and registration for the conference is available at www.pbmi.com/conference.asp There is a $100 discount on registrations received before Dec. 15, 2006. Experts from many organizations will speak at the PBMI conference including Carden & Associates; CIGNA Pharmacy Management; Consumer Healthcare Products Association; Consumers Union; Dean Health Plan; DeNucci Enterprises; Duane Reade; Evergreen Rx; Gorman Health Group; Health Affairs ; Health Strategies Associates; HealthTrans; Humana Inc.; Interface EAP; James Boyd & Associates, Ltd; JI Companies; Medco Health Solutions; Mercer Health & Benefits; Navitus Health Solutions; Partners Rx Management; Prevsaúde; RegenceRx; St. Joseph's Hospital; University of Michigan Medical Center; URAC; and U.S. Department of Justice. Continuing Education Credit The University of Arizona College of Pharmacy, accredited by the American Council on Pharmaceutical Education, will award 11.4 contact hours of continuing pharmacy education credit to attendees. CE credits for human resource and benefits professionals also will be available. The Pharmacy Benefit Management Institute provides research, continuing education, publications and Web resources that help health care benefit executives work effectively with their pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at http://www.pbmi.com/. SCOTTSDALE, Ariz , (November 6, 2006) – The 2006 Pharmacy Benefit Manager Customer Satisfaction Report released today by the Pharmacy Benefit Management Institute (PBMI) shows a clear link between transparency and employer satisfaction. PBMI's annual PBM Customer Satisfaction Survey asks U.S. employers to rate their PBMs on overall service and performance and 16 individual dimensions of service. For the first time this year, PBMI compared ratings on PBM performance with responses to two questions about the degree of financial transparency in their PBM relationships and the levels of satisfaction with that transparency. “PBMI's research findings demonstrate that how PBMs conduct business does impact employer satisfaction with their services,” says Dana H. Felthouse, PBMI president. “Market forces are helping to align the objectives of PBMs and their employer customers to improve the quality of drug benefit programs.” The PBMI research shows that employers who are “extremely satisfied” with the financial transparency of their PBM relationship gave their PBMs an average overall service and performance rating of 8.9 on a 10-point scale, with 10 being the highest rating. Statistically, the rating is significantly higher than the average PBM performance ratings from employers who are less satisfied with financial transparency. By comparison, employers who are “somewhat satisfied” with financial transparency gave their PBMs an average performance rating of 7.8, while those who are “somewhat dissatisfied” or “extremely dissatisfied” with financial transparency rated their PBM's performance at 6.7 and 6.2 respectively. Satisfaction with transparency impacts performance ratings in a very similar way on the 16 individual service measures included in PBMI's research. Again, employers who are the most satisfied with financial transparency rated their PBMs significantly higher on every service measure, including “delivering promised savings” and “delivering promised services.” Slightly more than half of the survey respondents (56%) perceive their PBM relationships to be somewhat transparent, while 28 percent say their relationships are “completely transparent.” Similarly, 57 percent are “somewhat satisfied” with the degree of transparency and 26 percent are “extremely satisfied. More than 540 employers representing 11.2 million beneficiaries nationwide participated in PBMI's 2006 PBM Customer Satisfaction Survey . In addition to trend information on employer satisfaction with PBMs, the research report provides comparative information on the performance of individual PBMs. It is widely recognized for providing valuable information to benefit executives responsible for researching, selecting and managing PBM services. The report profiles 20 different PBMs. The report is available for purchase at http://www.pbmi.com/or by calling 480-730-0814. The Pharmacy Benefit Management Institute provides research, continuing education, publications and Web resources that help health care benefit executives work effectively with their pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at http://www.pbmi.com/.
SCOTTSDALE, Ariz, April 27, 2006 — The Pharmacy Benefit Management Institute has awarded its 2006 Rx Benefit Innovation Awards to Cingular Wireless and the HR Policy Association Pharmaceutical Purchasing Coalition for improving the delivery of drug benefits. Cingular Wireless of Atlanta is being recognized for a comprehensive coinsurance plan design and long-term measurement of its impact on drug spend, generic utilization, and compliance for both bargained and non-bargained employees. The HR Policy Association Pharmaceutical Purchasing Coalition, based in Washington, DC, is being recognized for articulating principles of transparency for pharmacy benefit management contracting. “Cingular Wireless and the Pharmaceutical Purchasing Coalition exemplify a commitment to improving the delivery of drug benefit programs in a fiscally responsible way,” says Dana H. Felthouse, president of the Pharmacy Benefit Management Institute (PBMI). “These organizations recognize the value of aligning incentives among employees and the purchasers of their health care.” In the first year of implementing its new four-tier coinsurance plan design with non-bargained employees, Cingular's cost per employee per month decreased by $6.07 or 8 percent. The plan design effectively changed employee purchasing behavior, resulting in a 4.6 percent increase in the generic dispensing rate. Compliance with drug regimens for chronic conditions improved. Annualized savings resulting from this changed employee behavior was more than $2.8 million. The HR Policy Association Pharmaceutical Purchasing Coalition of more than 50 companies representing five million lives developed and published a definition of transparency and standards. The standards, called Transparency in Pharmaceutical Purchasing Solutions (TIPPS), were published in 2005 with the technical assistance of Hewitt Associates. Since then, three of the nation's largest PBMs have been certified by the Coalition under the TIPPS platform. More PBMs are expected to be certified in 2006. HR Policy Association is a public policy advocacy organization representing the senior human resource executives of over 260 leading employers doing business in the United States.
PBMI Educates Industry
The fourth annual Rx Benefit Innovation Awards will be presented today at PBMI's 11th annual prescription drug utilization management conference at the Scottsdale Plaza in Scottsdale. Past winners include AmeriHealth Mercy/Perform Rx, Cypress Care, Catalyst Rx, ePocrates, Express Scripts, Medco Health Solutions, Memorial Health System, Prescription Solutions, and University of Michigan. More than 350 U.S. benefit executives who design and administer drug benefit programs attend the nation's premier meeting dedicated to drug benefit management. PBMI provides research, continuing education, publications and Web resources to help health care purchasers work effectively with PBMs and other industry professionals to improve pharmacy benefit programs and control costs. Read case studies on award winners at http://www.pbmi.com/.
The Pharmacy Benefit Management Institute provides research, continuing education, publications and Web resources that help health care benefit executives work effectively with their pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at http://www.pbmi.com/.
SCOTTSDALE, Ariz, April 26, 2006 – Dave Borden and Tim Watson, PharmD, MBA, principals of Dallas-based Pharmaceutical Strategies Group (PSG), have purchased the Pharmacy Benefit Management Institute (PBMI) based in Scottsdale, Arizona. PBMI provides research-based educational resources that help employers, health plans, and union groups design and manage drug benefit programs. “The purchase of PBMI is an investment in the employee benefit management industry to ensure that these research-based resources remain available to the purchasers of drug benefit services,” said Watson. “The prescription drug benefit is a complex and costly element of the health care benefit package. Managing a high-value, cost-effective prescription drug plan is a daunting task for health care purchasers. PBMI has an 11-year track record of providing research, education and publications that help purchasers tackle drug benefit management challenges. We will build on this legacy and expand PBMI’s services in each of these areas.” “PBMI was founded on the premise of helping health care purchasers curb the rate of drug benefit cost increases. We designed our signature research and developed our annual conference to support the delivery of quality drug benefits,” said Michael H. Deskin, founder of PBMI. “Dave Borden and Tim Watson’s leadership and infusion of capital will provide continued support to the drug benefit industry.” PBMI is renewing its mission to serve as the industry's premier forum for health care purchasers to exchange ideas, advance best practices, and drive appropriate changes in the pharmacy benefit management marketplace. “All of us at PBMI view industry participants and vendors as essential partners in developing and promoting innovation in the marketplace,” said Borden. “By working together, plan sponsors, PBMs, and industry partners can improve the quality of health care and control drug benefit costs without more government regulation. As industry stakeholders, we can drive market-based reform.” Deskin will continue as a senior advisor to the PBMI team. Dana H. Felthouse, MBA, has been named the new president. The PBMI team includes Maggie Bruce, director of marketing; Ken Carpenter, director of sales; William F. Kane, MS, director of research; and Jenny Powers, membership coordinator. Visit PBMI and its new service offerings at http://www.pbmi.com/.
2006 Advisory Board
Advisory Board members are Jasmine Aral, director of pharmacy finance for HIP Health Plan of New York; Donald Benson, president and chief executive officer (CEO) of Health Administration Services; Keith Bruhnsen, pharmacy manager for University of Michigan; Patricia Fish, senior vice president of human resources for Steris Corporation; Estay Greene, PharmD, pharmacy care manager for The Cleveland Clinic; Lisa Gish, executive director of Tri-State Business Group on Health; Chris Goff, president/CEO of Employers Health Purchasing Corp. of Ohio; Keith Holtz, vice president of human resource services for Blockbuster, Inc.; Frank Kopenski, ASA, MAAA, associate actuary for Milliman & Robertson; Danny Moriarty, director of cost containment for Peabody Energy; Jerrell Riley, CEBS, manager of health and welfare benefits design for Cingular Wireless; and Jack Simmons, assistant to the executive secretary/treasurer for Empire State Regional Council of Carpenters.
PBMI Leadership
Borden has more than 20 years of experience in providing healthcare consulting services to Fortune 500 employers, payers, and large public sector purchasers. He has served as an executive in the private insurance sector. Borden has held leadership positions in several leading global consulting firms, including serving as the National Practice Leader for Arthur Andersen's Health & Welfare Practice, and as a regional managing partner for Deloitte Consulting, based in Dallas, Texas. Watson has extensive experience in the pharmacy benefits arena, including management experience with several leading PBMs and consulting experience with Deloitte & Touche. He is a frequent contributor to leading trade journals, and is the author of AIS' best selling book titled, PBM Formulary Strategies and Their Impact on Payers. He has provided pharmacy consulting services to some of the largest employers and plan sponsors in the country. Felthouse managed marketing and product development for PBMI for five years and served as vice president before being named president. She has a depth of experience in management, marketing and business development for health care and service companies. Her work history includes positions of increasing responsibility at Bayer College of Medicine, PCS Health Systems, and The HSM Group, Ltd.
The Pharmacy Benefit Management Institute provides research, continuing education, publications and Web resources that help health care benefit executives work effectively with their pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at http://www.pbmi.com/.
TEMPE, Ariz., January 11, 2006 – The Pharmacy Benefit Management Institute (PBMI) 2006 Prescription Drug Utilization Management Conference, to be held April 26-28, 2006 at the Scottsdale Plaza Resort in Scottsdale, Ariz., will include a Medicare Part D implementation update and a strategy session on employer retiree options. “In addition to providing cutting-edge strategies for managing employee drug benefit programs, our conference will help employers assess Medicare Part D experience to date and plan their 2007 strategies,” said Michael H. Deskin, PBMI president. Brenda Tranchida, deputy director of the Employer Policy & Operations Group for the Centers for Medicare & Medicaid Services, and Dan Moriarty, director of cost containment for Peabody Energy, also will conduct an in-depth question-and-answer session on Medicare issues in addition to their presentations.
Agenda Available On Line
New, in-depth workshops on benefit design and drug mix management, and PBM contracting will be held on April 26. Sessions on April 27 and 28 feature experts presenting research findings, case studies, and ready-to-implement strategies to manage utilization and control drug costs. Topics and case studies include the value of compliance, e-prescribing, evidence-based formulary design, management of physician prescribing, in-house pharmacy, and emerging PBM transparency standards. Experts from many organizations will speak including Advanced Pharmacy Concepts, Allscripts, Aon Consulting, BlueCross BlueShield of Massachusetts, Caremark, Catalyst Rx, Centers for Medicare & Medicaid Services, CHD Meridian Healthcare, CIGNA Pharmacy Management, Eastman Chemical Company, First Health Services Corp., HR Policy Association Pharmaceutical Purchasing Coalition, MedImpact, Peabody Energy, Pharmaceutical Strategies Group, Premera Blue Cross, and the State of Oregon Public Employees' Benefit Board. For an agenda and registration discount, visit http://www.pbmi.com/Conference.ASP.
Continuing Education
PBMI offers continuing education credits for human resource professionals and pharmacists. The conference qualifies for recertification credit for the Certified Compensation Professional (CCP®), Certified Benefits Professional (CBPTM ) and Global Remuneration Professional (GRP®) designations granted by WorldatWork Society of Certified Professionals. For more information on recertification, visit the Society Website at http://www.worldatworksociety.org/. The University of Arizona College of Pharmacy is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmaceutical education. Participants attending all sessions will be awarded 14 contact hours of continuing education credit. Statements of credit will be mailed four weeks after the program. ACPE Program Number: 003-999-05-071-L04. Privately held, PBMI provides research-based education to help professionals design and manage pharmacy benefit programs. Sponsorships and exhibits are available. Visit PBMI at http://www.pbmi.com/or call (480) 730-0814.
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