2011:

PBMI Survey Finds Reduced Prescription Drug Coverage and Improved Mail Pricing  Common Among Employers in 2011

PLANO, TX--(Marketwire - October 20, 2011) – As employee benefit budgets remain tight, employers are adopting plan design changes that reduce drug benefit coverage and  improve pricing according to findings from the 2011-2012 Prescription Drug Benefit Cost and Plan Design Report published by the Pharmacy Benefit Management Institute (PBMI).    

 “Employers are implementing prescription management approaches consistent with their strategy for overall medical benefits.  As a result, the complexity of cost-sharing continues to grow driven by increased use of four-tier plans and coinsurance designs which require additional member education,” said Brenda Motheral, PhD, Executive Director of the Pharmacy Benefit Management Institute.

The 2011 survey was completed by 274 employers and other plans representing 5.2 million members.  Key survey results include:

• Plans using a four-tier design increased from 17% to 25% between 2010 and 2011. Nearly 50% of large employers (more than 20,000 lives) now have a four-tier plan design.
• Specialty copays increased by 37% in 2011.  The average specialty copay grew from $61 in 2010 to $84 in 2011.  Nearly 1 in 4 employers now place specialty drugs on a fourth tier.
• PBM pricing pressure in mail is mounting as the average discount off AWP rose by 10 percentage points for generics dispensed through mail, increasing from 58% in 2010 to more than 68% in 2011.
• Reduced coverage of specialty pharmaceuticals on the medical side is on the rise as 24% of employers now restrict coverage of specialty drugs under the medical benefit, up from 12% in 2010.

This report is a valuable reference tool for all industry stakeholders, covering the full spectrum of pharmacy benefits and continually changing market dynamics.  New to this year’s report are rebate figures for retail 90 and specialty prescription claims.

Online resources and print copies of the report are available at www.pbmi.com

 

PBMI’s 2011 PBM Customer Satisfaction Survey Now Online

Pharmacy Benefit Management Institute’s 16^th Research Study

Plano, Texas—(Marketwire – September 13, 2011) - Fielding begins today on the industry’s leading survey of employer satisfaction with pharmacy benefit managers (PBMs). This marks the 16^th year that the Pharmacy Benefit Management Institute (PBMI) has conducted this study.

The 2011 PBM Customer Satisfaction survey asks employers, union groups and health plans to rate their PBMs on overall performance, nine service dimensions, 20 specific PBM functions and 11 specialty management functions.  Ratings address service functions in several areas including administration, pharmacy network, clinical programs, member Websites, management reporting, and Medicare Part D offerings.

Results of the survey will be published in PBMI’s 2011 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 individual PBM performance and provide insights on the PBM services that have the greatest potential impact on improving customer satisfaction.

Employers can participate in the online survey by contacting Julie Blackman at jblackman@pbmi.com for log-on credentials. The person responsible for managing the organization’s PBM relationship should complete the survey. Respondents receive an online free survey report and a chance to win a complimentary registration and lodging for PBMI’s 17^th Annual Drug Benefit Conference to be held February 22-24, 2012 in Scottsdale, Arizona.

 

PBMI Introducing Nationwide, Interactive Specialty Pharmacy and Vendor Directory

PLANO, TX--(Marketwire - Aug 24, 2011) - The Pharmacy Benefit Management Institute (PBMI) will launch the first nationwide, interactive Specialty Pharmacy and Vendor Directory this Fall. This interactive directory will help plan sponsors to easily identify specialty pharmacies and specialty vendors that meet their selection criteria for location and product offerings. Brenda Motheral, PhD, Executive Director of PBMI, said, "We want to provide a central location where plan sponsors can review and quickly find a specialty pharmacy or vendor that provides the prescription services they need in their location of choice."