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%).
