WASHINGTON, March 27, 2017 /PRNewswire-USNewswire/ -- As part of its DrugBenefitSolutions.com campaign, the Pharmaceutical Care Management Association (PCMA) today released a new video — "How do prescription drug rebates reduce costs?" — explaining how pharmacy benefit managers (PBMs) negotiate rebates and other discounts from drug companies that reduce costs for consumers, employers, unions, and government programs.
Click here to watch the new video.
"While two-thirds of drug company rebates are paid directly to government programs like Medicaid and 340B, some are negotiated by PBMs to reduce pharmacy costs for employers, unions, and Medicare Part D plans. This is one way PBMs help keep the growth in actual prescription drug spending in the low single digits despite massive price hikes by some drugmakers," said PCMA President and CEO Mark Merritt.
Other campaign videos include:
- How does drug pricing work?
- What is a PBM?
- What is drug price transparency?
- How do specialty pharmacies lower costs and improve quality?
- How do preferred pharmacies save money for seniors?
- Consumers discuss their drug benefits
Click here to view the rest of the videos on DrugBenefitSolutions.com.
PCMA is the national association representing America's pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pcma-releases-new-campaign-video-how-do-prescription-drug-rebates-reduce-costs-300429702.html
SOURCE Pharmaceutical Care Management Association