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News Releases - Archive
PBMI Conference Analyzes Plan Designs to Lower Rx Costs, Improve Health
SCOTTSDALE, Ariz., (December 16, 2009) - Benefits executives from Caterpillar, Inc., Procter & Gamble, and Delta Air Lines are among the employers who will share innovative approaches to plan design at the 2010 Drug Benefit Conference sponsored by the Pharmacy Benefit Management Institute (PBMI). Creative plan design that lowers drug cost, increases medication adherence and improves employee health will be a focus of the conference to be held Feb. 17-19 in Phoenix.
"In today's health care environment, strategies for delivering an economically sustainable drug benefit must evolve continuously," says PBMI President Dana H. Felthouse, MBA. "The PBMI conference provides a forum for drug benefit purchasers to exchange ideas and advance best practices as they emerge in the marketplace."
Employer case studies will show results achieved through benefit design innovations such as:
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contracting directly with pharmacies using a new drug pricing methodology and incentives to increase use of generics;
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using evidence-based plan design to increase member participation in chronic disease therapy;
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integrating value-based design and disease management with employee rewards to improve medication adherence; and
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leveraging over-the-counter drugs with 4th tier coverage and effective member communications to lower drug costs.
A panel of benefits experts will conduct an interactive conference session on the strengths and weaknesses of the newest trends in drug benefit plan design. They will discuss implementation challenges and outcome measurements of three commonly used plan designs that span the market's continuum of cost and utilization controls.
Free continuing education credit for the conference is available for human resource professionals through the HR Certification Institute and WorldatWork Society of Certified Professionals. Up to 12 hours of free continuing pharmacy education (CPE) credit will be available for pharmacists.
Agenda, Registration Online
Conference details are at www.pbmi.com/conference.asp. Low-cost registration is available for employers, employer coalitions, managed care organizations, unions, trusts and third-party administrators. There are discounts for all registrations received before Jan. 15, 2010.
The Pharmacy Benefit Management Institute provides research and continuing education to help health care benefit executives work effectively with pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at www.pbmi.com. To view this release and other PBMI news, please visit www.pbmi.com/news-releases.asp
SCOTTSDALE, Ariz., (October 27, 2009) - Success stories from payers at the leading edge of drug benefit management will be a highlight of the 2010 Drug Benefit Conference sponsored by the Pharmacy Benefit Management Institute (PBMI). The conference, to be held Feb. 17-19 in Phoenix, will feature case studies from employers and health plans forging innovative solutions to help ensure a return on the drug benefit investment. These lessons from the field will be useful to benefits managers, pharmacy professionals and other drug benefit stakeholders.
"PBMI has a long-standing reputation for educating the industry on the best approaches for managing the drug benefit," says Dana H. Felthouse, MBA, president of PBMI. "In today's health care environment, the strategies for delivering an economically sustainable drug benefit are always evolving. It's important to hear how people on the front lines are dealing with these challenges and setting benchmarks for success."
Up to 12 hours of free continuing pharmacy education(CPE) credit will be available for designated PBMI conference sessions and a pre-conference workshop on medication adherence. Human resource professionals also can earn continuing education credit.
PBMI's conference agenda includes case studies on successful efforts to lower drug trend, improve medication adherence, collaborate across health care silos, sustain employee engagement in health and wellness, manage expensive oncology drugs, and control misuse of pain medications.
Payers sharing their success stories include: CareFirst BlueCross BlueShield, Carpenters Health & Welfare Trust Fund of St. Louis, Caterpillar, Inc., Chatham Steel Corporation, City of Colorado Springs, Delta Air Lines, Essence Health Care, ICON Health & Fitness, Manatee County Government, Molina Healthcare of Michigan, Piedmont Community HealthCare Alliance, Procter & Gamble, TML Intergovernmental Employee Benefits Pool/Public Employee Benefits Alliance, and University of Michigan.
Agenda, Registration Online
A complete agenda and registration are at www.pbmi.com/conference.asp. Low-cost registration options are available for employers, employer coalitions, managed care organizations, unions, trusts and third-party administrators. There are discounts for all registrations received before Jan. 15, 2010.
The Pharmacy Benefit Management Institute provides research, continuing education, and Web resources that help health care benefit executives work effectively with pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at http://www.pbmi.com/. To view this release and other PBMI news, please visit www.pbmi.com/news-releases.asp
Employers Effectively Controlling Drug Benefit Costs
PBMI Report Shows Favorable Trends in Pharmacy Benefit Management
SCOTTSDALE, ARIZ., (October 7, 2009) - Employers are effectively controlling drug benefit costs and utilization, according to research findings in the Pharmacy Benefit Management Institute's (PBMI) 2009-2010 Prescription Drug Benefit Cost and Plan Design Report PBMI's employer survey shows the average rate of increase in drug costs has dropped to 4.4%, the lowest rate of increase since PBMI began conducting the study in 1995.
"Drug benefit management indicators are trending in the right direction as a result of effective use of economic incentives and clinical tools, says Dana H. Felthouse, MBA, PBMI president. "Employer use of multiple-tier drug benefit designs continues to increase for a third year, encouraging plan member use of low cost medications when medically appropriate. Generic dispensing rates increased in both retail and mail, with the average retail rate at 63.5% and the average mail rate at 53.6%."
For the first time, the study notes differences among fully-insured, self-insured, carve-out and carve-in drug benefit programs. For example, self-insured employers and those with carve-out drug plans are most likely to use multi-tiered cost sharing. Another significant difference occurs in management of specialty pharmacy. More carve-out employers than carve-in employers offer a specialty pharmacy benefit, with carve-out employers more likely to use their PBMs as exclusive suppliers of specialty drugs.
The 2009 survey was completed by 417 U.S. employers representing more than 7 million members. Almost 70 percent of the respondents have a self-insured plan compared to 32 percent with a fully-insured plan. There's a fairly even use of carve-in and carve-out designs.
PBMI gratefully acknowledges the support of Takeda Pharmaceuticals North America (TPNA), Inc. for the provision of a grant to cover costs incurred in the production of this report. TPNA has no access to the individual responses or raw data gathered, nor do any other third parties. This protects the confidentiality of the survey respondents and ensures the independence and objectivity of this report.
Takeda has sponsored publication of the Prescription Drug Benefit Cost and Plan Design Report since 2001. Takeda also has underwritten development of online resources to make research findings easy to access and use in benefit planning. Online resources and print copies of the new report are available at www.pbmi.com.
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PBM Customer Satisfaction Survey Now Online
Pharmacy Benefit Management Institute Expands Annual Research Study
SCOTTSDALE, Ariz., (September 22, 2009) - Fielding begins today on the industry's leading survey of employer satisfaction with pharmacy benefit managers(PBMs). The Pharmacy Benefit Management Institute(PBMI) has expanded the survey to capture new information on employer demographics, PBM performance on specialty pharmacyand RFP processes, and customer loyalty.
"PBMI is giving its customer satisfaction study a complete makeover to better meet the needs of drug benefit industry stakeholders," says Dana H. Felthouse, MBA, president of PBMI. "In addition to adding questions to capture new information, we will collect data online in a password-protected database and publish the report electronically. Expanded data collection combined with a new reporting methodology will yield a report with more actionable information for both PBMs and their customers."
PBMI's 15th annual survey asks employers, union groups and associations to rate their PBMs on overall performance and up to 24 service dimensions. Ratings address service functions in the areas of plan design support, administrative functions, pharmacy network, clinical services, specialty pharmacy, member Websites, management reporting, and RFP processes.
Results of the survey will be published in PBMI's annual PBM Customer Satisfaction Report, widely recognized for providing valuable information to benefit executives who research, select and manage PBM services. The report will continue to feature trend information about PBM performance at a detail level, and provide insights on the PBM services that have the greatest impact on improving customer satisfaction.
Employers can participate in the online survey by contacting Jenny Powers at info@pbmi.comfor log-on credentials. The person responsible for managing the organization's PBM relationship should complete the survey. Respondents receive a free survey reportand a chance to win free registration to PBMI's Drug Benefit Conferenceto be held Feb. 17-19, 2010 in Phoenix.
The Pharmacy Benefit Management Institute provides research and education to 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 www.pbmi.com.
PBMI Accepting Speaker Proposals for 2010 Conference
SCOTTSDALE, Ariz. - (June 5, 2009) - A well-crafted case study is a powerful educational and marketing tool. The Pharmacy Benefit Management Institute's (PBMI) 15th Anniversary Drug Benefit Conference offers industry experts an opportunity to present case studies that showcase solutions to critical drug benefit challenges.
Speaker proposals will be accepted until August 14, 2009 for the conference to be held February 17-19, 2010 in Phoenix.
"PBMI has a long-standing reputation for educating the industry on the best approaches for managing the drug benefit," says Dana H. Felthouse, MBA, president of PBMI. "We want conference proposals that educate employers, health plans, union groups, and third-party administrators. These stakeholders say they benefit most from case studies that show how other purchasers are overcoming challenges similar to their own."
Proposals for presentations that provide insight on drug benefit trends also are welcome. Speakers are needed for general sessions and breakout sessions in three tracks: HR Perspectives, Managed Care Pharmacy Perspectives, and Industry Trends.
Conference attendees typically include human resource generalists as well as benefits specialists and managed care pharmacy professionals. Some attendees want to know more about the fundamentals of pharmacy benefit management while others want more technical information. PBMI will offer sessions that meet both needs. The conference will offer 12 continuing pharmacy education (CPE) credits as well as continuing education credit for human resource professionals.
Prospective speakers should submit proposals at http://pbmi.com/SpeakerPresentation.asp. All speakers will receive free registration to the 2-day conference.
The Pharmacy Benefit Management Institute provides research, continuing education and Web resources that help health care benefit executives work effectively with pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at www.pbmi.com. To view this press release and other PBMI news, please visit www.pbmi.com/news-releases.asp.
of 15th Annual Drug Benefit Design Survey
SCOTTSDALE, Ariz.- (May 5, 2009) - The Pharmacy Benefit Management Institute (PBMI) is expanding the scope of its legacy study on prescription costs and drug benefit plan design to understand more about value-based drug benefits, affordability of prescription drugs, and differences between fully-insured and self-insured plan designs. PBMI wants all sponsors of drug benefit programs, including employers, union groups and associations, to participate in the online survey now underway.
PBMI's 15th Prescription Drug Benefit Cost and Plan Design Survey will continue to document decisions organizations are making about their drug benefit plans to control costs and improve clinical outcomes. In addition to cost sharing and pharmacy reimbursement trends, the study provides insights on dispensing channels (retail, mail, specialty), per member per month utilization metrics, and clinical management tools including academic detailing, face-to-face consults, and step therapy.
"Widespread participation in our survey enables PBMI to provide a valued benchmarking resource for the professionals involved in designing and managing drug benefit programs," says Dana H. Felthouse, MBA, president of PBMI. "We have expanded survey incentives to encourage participation from plan sponsors offering the pharmacy benefit to active employees, retirees, and a combination of both populations."
Plan sponsors (employers, unions and associations) who have not received a survey invitation should contact PBMI at 480-730-9814 or info@pbmi.com. Survey deadline is June 12.
PBMI gratefully acknowledges the support of Takeda Pharmaceuticals North America (TPNA), Inc. for the provision of a grant to cover costs incurred in the production of print and online versions of the report. TPNA has no access to the individual responses or raw data gathered, nor do any other third parties. This protects the confidentiality of the survey respondents and ensures the independence and objectivity of this report.
The Pharmacy Benefit Management Institute provides research, continuing education, and Web resources that help health care benefit executives work effectively with pharmacy benefit managers to improve the design and management of drug benefit programs. Learn more at www.pbmi.com. To view this press release and other PBMI news, please visit www.pbmi.com/news-releases.asp
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SCOTTSDALE, Ariz, (March 5, 2009) - The Pharmacy Benefit Management Institute (PBMI) has awarded its 2009 Rx Benefit Innovation Awards to four collaborations: the Coal/Energy Coalition with Pro Pharma Pharmaceutical Consultants, Inc., New Mexico Public Schools Insurance Authority with Catalyst Rx, the State of Arkansas Employee Benefits Division with informedRx, an SXC Company, and University of Rhode Island College of Pharmacy with the Rhode Island Department of Corrections. The awards were announced today at PBMI's 14th annual Drug Benefit Conference.
The Coal/Energy Coalition and Pro Pharma Pharmaceutical Consultants, Inc. (Pro Pharma) are recognized for a physician intervention program that improves the quality of pharmaceutical care, while also lowering drug trend. New Mexico Public Schools Insurance Authority (NMPSIA) and Catalyst Rx are recognized for increasing immunizations in rural areas by engaging qualified pharmacists as providers. The State of Arkansas Employee Benefits Division (EBD) and informedRx are recognized for integrating clinical data to improve benefit decision-making. The University of Rhode Island (URI) College of Pharmacy and the Rhode Island Department of Corrections (RIDOC) are recognized for a collaborative management model that increases efficiency, curbs costs and improves Rx care in seven correctional facilities.
"Our 2009 award recipients have differentiated themselves from industry norms with creative new approaches," says Dana H. Felthouse, MBA, president of PBMI. "Another hallmark of the winners is a passion for collaboration among multiple stakeholders. The solutions are programs that demonstrate success in improving pharmaceutical and health care as well as curbing costs."
Improved Physician Prescribing
The physician intervention program implemented by Pro Pharma for the Coal/Energy Coalition targets prescribers in seven states that are among the highest utilizers of prescription drugs. Compelling clinical information with patient-specific opportunities to improve pharmaceutical care is a key to engaging physicians. Three-year results show improved quality leads to lower costs. In 2007, the Coalition drug trend was -3 percent compared to 8.3 percent nationally and 16 percent for the coal/energy industry.
Immunization Delivery in Underserved Areas
Catalyst Rx and NMPSIA are addressing a critical need to increase immunizations in rural New Mexico with a new delivery system. Pharmacists who are certified to administer vaccines provide a host of immunizations in their local pharmacies. Online claims adjudication and aggressive outreach to pharmacists and NMPSIA members are keys to success. Since July 2006, pharmacists in more than 120 communities have administered about 29,000 vaccines to more than 15,400 NMPSIA members.
Integrated Data to Improve Benefit Decisions
The Arkansas EBD is committed to enhancing pharmacy and medical benefits to promote healthy lifestyles for state and public school employees. The Integrail Division of informedRx developed a custom data repository that integrates medical claims, pharmacy claims, risk prediction and health risk assessment data. Through user-friendly reports, the EBD accesses the patient-level clinical data to guide EBD's benefit design decision-making and care management priorities.
New Collaborative Management Model
The URI College of Pharmacy and RIDOC are pioneering a new higher education/state agency management model. URI's Healthcare Utilization Management Center and RIDOC medical staff together manage RIDOC pharmaceutical services. The Center provides an on-site pharmacist manager and extensive data analysis, reporting, clinical support and utilization management resources. PharmD students are involved in all aspects of the RIDOC program, giving them experience not typically part of pharmacy education. The collaboration has reduced medication waste by nearly 75 percent and stabilized RIDOC's drug trend in spite of significant drug product cost inflation and increase in inmate census.
The Pharmacy Benefit Management Institute provides research, continuing education, 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 www.pbmi.com.
Offer Opportunity for Planning, Collaboration
SCOTTSDALE, Ariz. (January 29, 2009) - As part of its 2009 Drug Benefit Conference, the Pharmacy Benefit Management Institute will offer three half-day workshops to help benefits managers and managed care pharmacy professionals deliver high performance drug benefit plans. The workshops will focus on working effectively with pharmacy benefit managers, utilizing technology tools, and optimizing the specialty pharmacy benefit. The workshops will be held Wednesday morning, March 4. PBMI's Drug Benefit Conference runs from March 4-6 at the Pointe Hilton Tapatio Cliffs Resort in Phoenix.
"PBMI's interactive workshops provide opportunities to learn from our peers and the industry experts serving as faculty," says PBMI President Dana H. Felthouse, MBA. "Case study exercises give participants the chance to do some action planning that will translate to their own drug benefit programs."
In "Drug Benefit Management 201,"" workshop participants will learn how to manage PBM performance through key metrics linked to the plan's most critical utilization trends and cost drivers. The "Specialty Pharmacy" workshop will focus on working across silos to manage high dollar, complex therapies more effectively. In "Technology Tools," participants will review technologies that improve clinical and economic outcomes, identifying opportunities to integrate technology to improve drug benefit programs.
PBMI's Drug Benefit Conference offers many more solutions for managing the drug benefit in this challenging economic climate. More than 30 industry experts will share best practices and effective responses to the market forces impacting the benefit. The conference features free continuing education credits for human resource/benefits professionals and managed care pharmacy experts.
The Pharmacy Benefit Management Institute provides research, continuing education 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 www.pbmi.com.
SCOTTSDALE, Ariz. (January 21, 2009) - The Pharmacy Benefit Management Institute's (PBMI) 2009 Drug Benefit Conference scheduled for March 4-6 in Phoenix offers free continuing education credit for professionals involved in drug benefits.
"The PBMI conference offers a blend of formal and informal training for all of the professional disciplines involved in the design and administration of the pharmacy benefit," says Dana H. Felthouse, MBA, president of PBMI. "Our 2009 faculty brings some of the best thinking in the marketplace about how to effectively manage drug benefit programs. It's especially important in today's economic climate for human resource and pharmacy professionals to have the best information available for drug benefit decision-making."
The PBMI conference is dedicated to curbing costs and maximizing quality in drug benefit plans. Programming addresses the needs of human resource managers, pharmacy directors, benefits consultants, information technology experts, and attorneys who plan and manage drug benefit programs for employees, retirees, union groups, trusts or health plan members.
Pharmacists
ProCE, Inc. is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education. Participants attending one pre-conference workshop and all three conference sessions in the Managed Care Pharmacy Perspectives track may earn up to six contact hours of continuing education credit. Pre-conference workshop topics include Drug Benefit Management 201, Specialty Pharmacy, and Technology Tools. Candidates must complete an online CE program evaluation to receive credit.
HR Professionals
PBMI's conference has been approved for 17.25 (Specified -Strategic) recertification credit hours toward the Human Resource Certification Institute's accreditation programs including Professional in Human Resources (PHR®), Senior Professional in Human Resources (SPHR®), and Global Professional in Human Resources (GPHR®).
Recertification credit also is available for the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), and Work-Life Certified Professional (WLCP®) designations granted by WorldatWork Society of Certified Professionals.
Attorneys
Health care attorneys interested in obtaining MCLE credit should contact their state bar associations to request credit for attending the PBMI conference.
Conference Agenda, Registration Online
The Pharmacy Benefit Management Institute provides research, continuing education 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 www.pbmi.com.
SCOTTSDALE, Ariz., (January 7, 2009) - The Pharmacy Benefit Management Institute (PBMI) has added a general session on PBM contracting to its 2009 Drug Benefit Conference to be held March 4-6 in Phoenix, Arizona. The session is designed to help employers and other purchasers execute contracts that maximize the potential for benefit cost savings. Discounts on conference registration are available until January 16.
PBMI also has added four more employer case studies to the conference agenda, for a total of nine. The case studies, a highly valued feature of the PBMI conference, will illustrate proven solutions to the top drug benefit challenges employers are grappling with today.
"In this current economic climate, drug benefit plan sponsors need the best information available on how to cut costs and still offer a benefit that helps improve the health and productivity of the workforce," says PBMI President Dana H. Felthouse, MBA. "PBMI's conference will arm benefits and pharmacy professionals with the knowledge to manage a cost-effective and valuable drug benefit program in these challenging times."
The conference session on PBM contracting will outline what every purchaser should know about this increasingly complex process. Critical aspects to be discussed include contract definitions, financial and performance guarantees, maximum allowable cost lists for generic drugs, and audit provisions.
Employer case studies focus on:
- Curbing drug expenditures while improving appropriate drug use,
- Managing drug spend in Workers' Compensation,
- Selecting the best Medicare Part D option to comply with CMS requirements,
- Decreasing costly chronic disease complications through employee health management,
- Implementing data-driven value-based benefit designs, and
- Assessing drug utilization trend in a consumer-driven plan.
In total, the conference offers 10 general sessions, roundtable discussions, and nine breakout sessions with tracks for benefits generalists and managed care pharmacists. There are three pre-conference workshops on drug benefit management, specialty pharmacy and technology tools.
Agenda, Registration Online
A complete agenda, speaker credentials and registration information are available at www.pbmi.com/conference.asp. Low-cost registration options are available for employers, employer coalitions, managed care organizations, unions, trusts and third-party administrators. There are discounts for all registrations received before January 16, 2009.
The Pharmacy Benefit Management Institute provides research, continuing education, 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 www.pbmi.com.
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