Washington, DC (PRWEB) May 28, 2014
For its May 23 issue, Atlantic Information Services, Inc.’s, Drug Benefit News (DBN) interviewed several pharmacy benefit consultants about what employers are seeking in a pharmacy benefit manager, and found that although shopping around for a new PBM is a hassle, some employers are considering it because they're unhappy with the customer service at their current PBM.
“I think [PBM industry] consolidation has impacted the quality of service on clients,” asserts Helen Sherman, Pharm.D., vice president at Solid Benefit Guidance. Some of these “service pains” created by recent mergers and acquisitions pertain to resolution on coding and other operational issues, she tells DBN.
“Our large employer clients have been particularly interested in exploring the marketplace this year,” reports Josh Golden, a consultant at Pharmaceutical Strategies Group LLC. “This is driven by two primary factors: First, inconsistent service levels across the major PBMs have left a number of clients frustrated with their incumbent. Second, our clients are learning that the competitive bid process almost always drives a better financial outcome compared to a non-competitive renewal. They’re willing to invest time and resources to pursue that additional value.”
Visit http://aishealth.com/archive/ndbn052314-05 to read the article in its entirety, including what consultants have to say about carve-in deals.
About Drug Benefit News
Published biweekly, Drug Benefit News delivers timely news and proven cost management strategies for health plans, PBMs, pharmaceutical companies and employers. Coverage includes up-to-the minute news of industry consolidation, strategies for participation in exchanges, generic promotion tactics, formulary decisions, innovative benefit designs, drug pricing methodologies, PBM contracting, changes in Part D and other federal initiatives, and much more. Visit http://aishealth.com/marketplace/drug-benefit-news for more information.
About Atlantic Information Services
Atlantic Information Services, Inc. (AIS) is a publishing and information company that has been serving the health care industry for more than 25 years. It develops highly targeted news, data and strategic information for managers in hospitals, health plans, medical group practices, pharmaceutical companies and other health care organizations. AIS products include print and electronic newsletters, websites, looseleafs, books, strategic reports, databases, webinars and conferences. Learn more at http://AISHealth.com.