Bonita Springs, Florida (PRWEB) March 09, 2018
BeneCard PBF, a purely transparent PBM, has achieved another year of outperforming industry trend numbers. While prescription drug costs continue to rise at a rate of 30 to 40% higher than medical rates, primarily due to specialty drugs, BeneCard PBF’s clinically focused, ethical and purely transparent approach to pharmacy benefits management continues to reduce costs for plan sponsors. A 2017 trend of 0.83% further validates the business model that BeneCard PBF has pioneered in the PBM space.
BeneCard PBF historically delivers industry-leading trend. In 2016, BeneCard PBF’s prescription drug trend was just 1.05%, including specialty pharmacy. Meanwhile, according to Segal Consulting’s Rx Trend Report, the industry experienced an annual average increase of 8.1%. Similarly in 2015, BeneCard PBF maintained lower drug spending with a trend of only 5.51% while the industry was hit with an 11.1% rise.
Not only is this national PBM outperforming the industry, but the margins in plan sponsor savings are widening. BeneCard PBF’s approach centers on proactive, innovative clinical protocols and 24/7/365 customer care. These measures help contain costs, reduce trend and improve member health outcomes. To support BeneCard PBF’s self-reported outcomes, Vydahl LLC was engaged to provide third-party validation of the company’s clinical savings outcomes. Their analysis confirms that BeneCard PBF has outperformed other PBMs in the market. Click here to view Vydahl’s assessment.
“Our trend numbers are consistently below the industry average. We are particularly pleased that we’ve been able to contain prescription costs while continuing to effectively improve health outcomes and eliminate dangerous and inappropriate care,” reports Michael Perry, BeneCard PBF President. “I credit our proactive clinical focus throughout the company, as well as our U.S. based, high-touch service that is available around-the-clock, for driving these significant savings.”
About BeneCard PBF
Through proactive clinical programs, including pharmacogenetics and functional medicine, BeneCard PBF enhances patient outcomes while lowering prescription drug costs. With offices in Florida, Pennsylvania and New Jersey, BeneCard PBF administers fixed-rate and self-funded prescription benefit programs. The company offers innovative solutions to control costs while providing the highest quality service available in prescription benefit management. For more information, please visit benecardpbf.com.