WASHINGTON, Oct. 8, 2012 /PRNewswire-USNewswire/ -- As policymakers are faced with reducing future projected budget deficits by $1.2 trillion through 2021 as part of sequestration, the Pharmaceutical Care Management Association (PCMA) has outlined opportunities to leverage greater use of pharmacy benefit management tools to save the federal government more than $100 billion in prescription drug costs over ten years.
"The solutions we outline would save more than $100 billion, improve prescription drug benefits, and increase access to these benefits," said PCMA President and CEO Mark Merritt. "During these difficult economic times, it is more important than ever to offer meaningful cost-saving solutions instead of special interest mandates that add to the deficit."
Click here to read PCMA's letter
Using innovative cost-saving tools and technologies, PBMs work with payers to design drug benefits that reduce costs and expand access to prescription drugs. These tools – including pharmacy networks, home delivery, utilization management (such as step therapy and prior authorization), and formularies – help make prescription drug benefits more affordable.
Below are options that would generate $100 billion in prescription drug savings:
PCMA represents the nation's pharmacy benefit managers (PBMs), which improve affordability and quality of care through the use of electronic prescribing (e-prescribing), generic alternatives, mail-service pharmacies, and other innovative tools for 210-plus million Americans.
SOURCE Pharmaceutical Care Management Association