The results come from the publication of the IFEBP’s latest book, Pharmacy Benefit Managers that provides survey data and sample request for proposals for pharmacy benefit managers.
The following are some of the key findings from the survey:
Of survey respondents, 58% use a pharmacy benefit manager (PBM) to administer their prescription drug plan. Of those who use a PBM:
- 69% require PBMs to pass through all manufacturer rebates, discounts, fees and other payments.
- 63% include financial and performance guarantees in their PBM contracts.
- 63% require an unrestricted right to audit PBMs.
The most popular cost-containment techniques used by respondents are
- Mail-order drug services (87%)
- Drug formularies (79%)
- Mandating or promoting generic drug use (79%)
- A system of three or more tiers for cost-sharing devices such as deductibles, coinsurance and copayments (76%).
Of respondents using PBMs or other vendors:
- 89% are satisfied or very satisfied with their current service provider.
- 12% are in the process of choosing a new provider, and 14% plan to change vendors within the next 12 months.
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