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Use of pharmacy benefit managers on the rise

Christian Schappel
by Christian Schappel
July 7, 2011
1 minute read
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Does your company use pharmacy benefit managers (PBMs)? If not, it’s in the minority, according to a new study.
The use of third-party PBMs to process and pay prescription drug claims has risen 10% in that past two years, according to a U.S. study of 220 organizations that was just released by Buck Consultants.
In 2009, 47% of employers used PBMs. Now that number has risen to 57%.
The reason for the growth: Employers say PBMs offer better drug prices.
The study also highlighted the top prescription drug management initiatives employers are using today:

  • Formularies (90%)
  • Utilization management programs (78%), and
  • Large cost-sharing differentials between cost-sharing tiers (77%).

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