PBMs Generate Discounts of 31% at Retail Pharmacies and 45% at Mail-Service Pharmacies

(Washington, DC)—As enrollment begins tomorrow in Medicare’s new prescription drug benefit, the Pharmaceutical Care Management Association (PCMA) will launch a new advertising initiative to call attention to the significant drug price discounts negotiated by America’s pharmacy benefit managers (PBMs) for the Medicare program. PCMA is the national association representing America’s pharmacy benefit managers (PBMs).

“PBMs are getting the job done in Medicare by driving down drug prices while improving quality and choice for Medicare’s senior and disabled beneficiaries,” said PCMA President Mark Merritt in announcing the campaign.

PCMA’s new ad, which refers to an analysis of drug prices listed on Medicare’s “Prescription Drug Plan Finder” website, shows that PBMs will save beneficiaries who enroll in Part D an average of 31 percent on medications they purchase at retail pharmacies and 45 percent on medications they purchase at mail-service pharmacies. These savings are based on comparing Medicare drug prices to the prices that drug stores charge seniors with no drug coverage. While seniors enrolling in Part D will typically pay only a small co-payment for the medicines they purchase, those paying down a deductible or in the so-called “donut-hole” will pay the negotiated price generated by a PBM or the plan sponsor.

“The degree to which Medicare empowers the use of PBM tools like mail-service, formulary management, retail pharmacy networks, and e-prescribing will be the degree to which savings and quality improvements will be generated for Medicare,” notes Merritt.

###

The Pharmaceutical Care Management Association (PCMA) is the national trade association representing America’s pharmacy benefit managers (PBMs). PCMA member companies provide pharmaceutical care management services to more than 200 million Americans.

Contact Information:
Tim Brogan
(202) 207-3610