PCMA: Choose PBMs’ Cost Saving Tools Instead of Raising Taxes or Cutting Benefits

Washington, DC; 11.22.04 — Mark Merritt, President of the Pharmaceutical Care Management Association (PCMA) issued the following statement in response to yesterday’s New York Times’ article detailing states’ prescription drug cost pressures and infighting with the drug manufacturers’ lobby over cost-control efforts. PCMA is the national association representing America’s pharmacy benefit managers:

” At a time when health care costs are overwhelming state and federal budgets, we need to work together to find reasoned private-sector solutions to controlling prescription drug costs. We won’t get there by diminishing private-sector competition, only by opening the doors to more competition and to proven tools that have managed drug costs, while also promoting quality and safety.

“America’s pharmacy benefit managers (PBMs) are a big part of the solution — driving down prescription drug costs by an average of 25 percent in the private sector and, according to a recent study PricewaterhouseCoopers, saving the system an estimated $1.3 trillion dollars on drug spending over the next decade.

“In both Medicare and Medicaid, Congress and the nation’s governors need real, workable solutions, not short-sighted private agendas that don’t move the cost containment ball up-field. Raising taxes and cutting services shouldn’t be the only option for the states and the federal government when it comes to reining in drug spending in these vitally important programs. And it won’t be if we have the good sense to let proven, private-sector solutions pioneered by PBMs be the roadmap for reform.”

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

Contact Information:
Phil Blando
202-207-3614