PCMA: New Medicare Data Show Medicare Discount Cards Driving Down Drug Prices by Additional 10 Percent in Past Week Alone
Merritt: ‘Data are Fresh Reminder of the Power of Choice, Information & Competition In Lowering Drug Prices for Seniors’
Washington, DC; 05.14.04 — Mark Merritt, President & Chief Executive Officer of the Pharmaceutical Care Management Association (PCMA), issued the following statement regarding new data released today by the Centers for Medicare & Medicaid Services showing that the cost of prescription drugs available through Medicare-sponsored drug discount cards has fallen by more than 10 percent for both brand-name and generic prescription drugs in the past week alone:
“New data released today by the Medicare program confirm that Medicare drug discount cards are working as intended and driving down the cost of both brand-name and generic drugs for seniors Ă¢?? on average by an additional 10 percent in the past week alone.
“America’s PBMs have been proven to lower the cost of prescription drugs for consumers in other parts of the health care system and, as these data suggest, are now doing their part in Medicare.
“With PBMs slated to administer a majority of Medicare-sponsored drug discount cards, these data are a fresh reminder of the power of choice, information, and competition and the benefit they provide to consumers.”
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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