Drug Benefit Experts Invest in Pharmacy Benefit Management Institute

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Dave Borden and Tim Watson, PharmD, MBA, principals of Dallas-based Pharmaceutical Strategies Group (PSG), have purchased the Pharmacy Benefit Management Institute (PBMI) based in Scottsdale, Arizona.

Dave Borden and Tim Watson, PharmD, MBA, principals of Dallas-based Pharmaceutical Strategies Group (PSG), have purchased the Pharmacy Benefit Management Institute (PBMI) based in Scottsdale, Arizona. PBMI provides research-based educational resources that help employers, health plans, and union groups design and manage drug benefit programs.

“The purchase of PBMI is an investment in the employee benefit management industry to ensure that these research-based resources remain available to the purchasers of drug benefit services,” said Watson. “The prescription drug benefit is a complex and costly element of the health care benefit package. Managing a high-value, cost-effective prescription drug plan is a daunting task for health care purchasers. PBMI has an 11-year track record of providing research, education and publications that help purchasers tackle drug benefit management challenges. We will build on this legacy and expand PBMI’s services in each of these areas.”

“PBMI was founded on the premise of helping health care purchasers curb the rate of drug benefit cost increases. We designed our signature research and developed our annual conference to support the delivery of quality drug benefits,” said Michael H. Deskin, founder of PBMI. “Dave Borden and Tim Watson’s leadership and infusion of capital will provide continued support to the drug benefit industry.”

PBMI is renewing its mission to serve as the industry's premier forum for health care purchasers to exchange ideas, advance best practices, and drive appropriate changes in the pharmacy benefit management marketplace.

“All of us at PBMI view industry participants and vendors as essential partners in developing and promoting innovation in the marketplace,” said Borden. “By working together, plan sponsors, PBMs, and industry partners can improve the quality of health care and control drug benefit costs without more government regulation. As industry stakeholders, we can drive market-based reform.”

PBMI will have its own Advisory Board to help shape future research, education, publications, and services. Members of the board represent the interests and needs of the drug benefit purchasing community. PBMI will continue to tap the expertise of executives from employers, health plans, pharmacy benefit managers, benefits consultants, and industry partners from throughout the industry to serve as faculty members for its conferences, Webcasts, and continuing education services.

Deskin will continue as a senior advisor to the PBMI team. Dana H. Felthouse, MBA, has been named the new president. The PBMI team includes Maggie Bruce, director of marketing; Ken Carpenter, director of sales; William F. Kane, MS, director of research; and Jenny Powers, membership coordinator. Visit PBMI and its new service offerings at http://www.pbmi.com.

2006 Advisory Board

Advisory Board members are Jasmine Aral, director of pharmacy finance for HIP Health Plan of New York; Donald Benson, president and chief executive officer (CEO) of Health Administration Services; Keith Bruhnsen, pharmacy manager for University of Michigan; Patricia Fish, senior vice president of human resources for Steris Corporation; Estay Greene, PharmD, pharmacy care manager for The Cleveland Clinic; Lisa Gish, executive director of Tri-State Business Group on Health; Chris Goff, president/CEO of Employers Health Purchasing Corp. of Ohio; Keith Holtz, vice president of human resource services for Blockbuster, Inc.; Frank Kopenski, ASA, MAAA, associate actuary for Milliman & Robertson; Danny Moriarty, director of cost containment for Peabody Energy; Jerrell Riley, CEBS, manager of health and welfare benefits design for Cingular Wireless; and Jack Simmons, assistant to the executive secretary/treasurer for Empire

State Regional Council of Carpenters.

PBMI Leadership

Borden has more than 20 years of experience in providing healthcare consulting services to Fortune 500 employers, payers, and large public sector purchasers. He has served as an executive in the private insurance sector. Borden has held leadership positions in several leading global consulting firms, including serving as the National Practice Leader for Arthur Andersen's Health & Welfare Practice, and as a regional managing partner for Deloitte Consulting, based in Dallas, Texas.

Watson has extensive experience in the pharmacy benefits arena, including management experience with several leading PBMs and consulting experience with Deloitte & Touche. He is a frequent contributor to leading trade journals, and is the author of AIS' best selling book titled, PBM Formulary Strategies and Their Impact on Payers. He has provided pharmacy consulting services to some of the largest employers and plan sponsors in the country.

Felthouse managed marketing and product development for PBMI for five years and served as vice president before being named president. She has a depth of experience in management, marketing and business development for health care and service companies. Her work history includes positions of increasing responsibility at Bayer College of Medicine, PCS Health Systems, and The HSM Group, Ltd.

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

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Maggie Bruce
Pharmacy Benefit Management Institute
(480) 994-8768
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