WASHINGTON, Oct. 25, 2017 /PRNewswire-USNewswire/ -- According to a new study conducted by Benfield, a division of
"Employers want to provide the best health benefits for their employees while getting strong value in return for the money they spend on prescription drug benefits," said Dan Leonard, NPC president. "We wanted to understand employers' perspectives on PBMs and benefit design with the intention of beginning a constructive and educational conversation among health care stakeholders."
Employers provide health insurance for 56% of the U.S. insured population, making them an important link to improved patient health and well-being. Employers' choices about benefit design, the vendors they work with and how they manage their contracts all impact employee health. Yet employers that were surveyed or interviewed as part of the study expressed concerns about how they interact and utilize their PBMs and highlighted potential solutions for improvement. These include:
"The survey indicates that there is room for improvement in the dialogue between employers and PBMs. And what is interesting – though perhaps not surprising – is that our analysis indicates employers that are more actively engaged in managing their prescription benefits tend to be more trusting of and satisfied with their PBM vendors. We speculate this is because more engaged employers value prescription benefits more highly, communicate their expectations more clearly, and work more diligently with their PBM vendors to get rid of ambiguous contract language and assure alignment between PBM services and total value," said Chuck Reynolds, Area President, Benfield.
Tools to Help Employers:
In conjunction with the study, Toward Better Value: Employer Perspectives on What's Wrong With the Management of Prescription Drug Benefits and How to Fix It, Benfield and NPC developed tools to assist employers with the PBM assessment process. Available on NPC's website, these tools include:
About the study:Benfield, a Division of Gallagher Benefit Services, conducted interviews with eight subject matter experts to gather background and guide survey development. They then surveyed health benefit decision-makers and influencers at 88 employers with 5,000 or more employees. The survey assessed respondents' experiences and perspectives regarding current and next-generation pharmacy benefit management value propositions and business models. They also conducted follow-up interviews with eight survey respondents to provide additional insights related to survey findings. Interviewees were selected to represent a spectrum of experiences and perspectives about current and future approaches to managing prescription drug benefits.
About the National Pharmaceutical CouncilThe National Pharmaceutical Council is a health policy research organization dedicated to the advancement of good evidence and science, and to fostering an environment in the United States that supports medical innovation. Founded in 1953 and supported by the nation's major research-based pharmaceutical companies, NPC focuses on research development, information dissemination and education on the critical issues of evidence, innovation and the value of medicines for patients. For more information, visit www.npcnow.org and follow NPC on Twitter @npcnow.
About BenfieldBenfield, a Division of Gallagher Benefit Services, specializes in health care market research, strategy and communications, while seeking to improve health care value though meaningful information, clear communications and innovative collaboration along the health care supply chain. The study was conducted for Benfield by Chuck Reynolds, Area President and Laura Rudder Huff, Senior Consultant. Visit Benfield: http://www.benfieldresearch.com/
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SOURCE National Pharmaceutical Council
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