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WASHINGTON — The Pharmaceutical Care Management Association (PCMA) launched the PBM Innovation Project today, an interactive online portal that tracks and showcases the latest patient-centered innovations from pharmacy benefit managers (PBMs) of all sizes across the country. An accompanying white paper was also released that provides detailed information on innovative programs from PCMA-member PBMs.
“While pharma is lobbying to defend their status quo pricing practices, PBMs are responding to consumer needs, market demands and not waiting for government interventions or unnecessary mandates,” said JC Scott, president and CEO, PCMA. “PBMs have announced many new, innovative programs to help employers and unions offer competitive pharmacy benefits, while giving patients more convenient access to prescription drugs and lowering their out-of-pocket costs.”
The PBM Innovation Project highlights models and programs that PBMs are pioneering in the prescription drug market around five patient-centric areas:
- Lowering out-of-pocket costs for patients
- Allowing access to more transparent information about pharmacy benefits, costs, and access
- Working with health plans to break down barriers around biosimilars
- Strengthening the retail pharmacy market and giving patients access to pharmacies regardless of where they live
- Supporting lower list prices and comprehensive coverage options for GLP-1s and other prescription drugs
PBMs are addressing challenges to affordability and access by demonstrating a focus on patients and supporting a market that is innovative and adaptive. It is crucially important that as policymakers consider proposals to intervene in the commercial insurance market with PBM mandates and limitations, they do so with a more complete understanding of the numerous ways the market continues to change and adapt.
“This is a dynamic marketplace,” Scott continued. “The PBM industry remains committed to our work driving affordability and access, and is evolving how that work is done to meet the needs of today’s consumers and employers. We have to preserve this dynamism and protect it from heavy-handed government over-regulation that will only slow progress and add cost. Public policy should start with a foundational recognition of how the industry is already moving and how the market has changed.”
America’s businesses know the needs of their employees best and value choice and flexibility when it comes to making decisions on pharmacy benefits. PBMs urge policymakers to focus on the root cause of the affordability challenge – high drug prices – while encouraging more competition and innovation in the commercial market, rather than disrupting it by removing choices from employers and mandating a one-size-fits-all approach to pharmacy benefits.
Explore the PBM Innovation Project HERE.
Read the PBM Innovation Delivers Results for Patients white paper HERE.
