Westerville, Ohio (PRWEB) March 12, 2008
PMI, a leading provider of pharmacy benefits management solutions, announced today the release of a white paper entitled, "Managing the Challenges of Increasing Medication Costs in Auto No-Fault Insurance."
The white paper provides information about rising medication costs and an overview of effectively managing these costs by using a Pharmacy Benefit Manager (PBM). The report is intended for auto no-fault insurers looking to improve their financial performance by decreasing unnecessary pharmacy expenses and increasing insured satisfaction.
"Without proper management of pharmacy benefits, auto no-fault insurers struggle to provide the best service to their insureds," said Dave Bianconi, PMI president and chief executive officer. "By working with a pharmacy benefit manager, auto no-fault insurers can outsource the management of medication costs and focus on what's most important--their customers."
The "Managing the Challenges" white paper offers insight into the complex issues surrounding the rising costs of medications, which can include price inflation, unnecessary use of brand medications and improper utilization of prescriptions.
Additionally, it provides a framework to understanding the services offered by a PBM and provides examples of services that help solve cost-containment issues, such as network participation and discounts, program penetration, mail order discounts, drug utilization review and formulary management. This white paper also demonstrates how using a PBM can assist insurers in meeting their pharmacy cost-containment and customer satisfaction goals.
The white paper explains how the PBM solution can work for each insurer, resulting in reducing administrative burdens and increasing insured satisfaction. Finally, it provides criteria for insurers to properly select and evaluate a PBM relationship.
"Insurers need to be proactive to meet today's challenges," Bianconi said. "PMI knows the pharmacy management industry and works hard to help auto no-fault insurers meet and exceed their goals."
Download the white paper by visiting http://www.progressive-medical.com/15221.cfm.
PMI is a Pharmacy Benefit Manager (PBM) that has provided pharmacy management solutions to the challenges that face insurers for more than 20 years. The Total Pharmacy Management program offered by PMI was created by pharmacists with more than 20 years experience in developing cost containment programs. PMI's services are easy to use and fully customizable to meet each client's needs. PMI has a vast national network of pharmacies that include 98 percent of retail pharmacies nationwide. By using a variety of programs, such as Home Delivery, Mail Order and Drug Utilization Review (DUR), PMI provides pharmacy management services to insurers.
For more information about PMI or to learn about Pharmacy Benefit Management call (800) 777-3574 or visit http://www.progressive-medical.com.
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