WASHINGTON, April 11, 2016 /PRNewswire-USNewswire/ -- Today, the Pharmaceutical Care Management Association (PCMA) holds its annual "PBM Policy Forum" at the Newseum in Washington, D.C. The event will focus on market-based solutions to lower the cost of prescription drugs, such as the use of biosimilars, specialty pharmacies, and value-based contracting as well as managing costs in the medical benefit. The forum will feature leaders from the Food and Drug Administration (FDA) and the Centers for Medicare and Medicaid Services (CMS).
Participants in this year's forum include:
- Mark Merritt – President & Chief Executive Officer, PCMA
- Everett Neville – Senior Vice President, Supply Chain, Express Scripts
- Farrah Wong – Director, Pipeline and Drug Surveillance, OptumRx
- Alan Lotvin – Executive Vice President, CVS/specialty, CVS Health
- Chris Bradbury – Senior Vice President, Integrated Clinical Solutions and Specialty Pharmacy, Cigna Pharmacy Management
- Sean Cavanaugh – Deputy Administrator & Director, Center for Medicare, CMS
- Rich Moscicki – Deputy Center Director for Science Operations, Center for Drug Evaluation and Research, FDA
"The way to reduce pharmacy costs is to increase competition. It's encouraging that the Administration and Congress are considering a number of market-based solutions to accomplish this goal," said PCMA President and CEO Mark Merritt.
Potential solutions for high drug prices that policymakers could consider include:
- Accelerating FDA approvals of drugs that face no competition;
- Making copay coupons an illegal kickback for all insurance that receives any federal subsidy;
- Modernizing Medicaid pharmacy to make it more like the commercial market and Medicare Part D;
- Creating new incentives for physicians to prescribe biosimilars; and
- Avoiding "any willing pharmacy" mandates that limit specialty pharmacy options and undermine patient safety.
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, managed Medicaid plans, and others.
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SOURCE Pharmaceutical Care Management Association