WASHINGTON, April 14, 2016 /PRNewswire-USNewswire/ -- Pharmaceutical Care Management Association (PCMA) President and CEO Mark Merritt released the following statement on a new report from the IMS Institute for Healthcare Informatics, Medicines Use and Spending in the U.S.: A Review of 2015 and Outlook to 2020:
"This report highlights how tools used by pharmacy benefit managers restrain costs for commercial and government payers by increasing competition among drugmakers. This competitive model should be used to root out wasteful spending in unmanaged programs where PBM tools are not widely employed."
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.
SOURCE Pharmaceutical Care Management Association