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SOURCE Pharmaceutical Care Management Association
PBMs are Key to Promoting Generics
WASHINGTON, Dec. 19, 2013 /PRNewswire-USNewswire/ -- Generic medications accounted for more than $1 trillion in overall savings during the last decade, according to a new study released by the Generic Pharmaceutical Association (GPhA). Through innovative utilization management tools, pharmacy benefit managers are the primary drivers for increased use of generic drugs, the Pharmaceutical Care Management Association (PCMA) said today.
"This study confirms that lower cost generics continue to save employers, unions, and government payors billions of dollars on their drug costs," said PCMA President and CEO Mark Merritt. "PBMs are experts at delivering these savings through lower cost sharing, generic incentive programs, and mail-service pharmacy."
In 2012, 84 percent of prescriptions in the U.S. were filled with generics, according to IMS Health.
Key findings in the GPhA report include:
Additional findings include:
PCMA represents the nation's pharmacy benefit managers (PBMs), which improve affordability and quality of care through the use of electronic prescribing (e-prescribing), generic alternatives, mail-service pharmacies, and other innovative tools for 216 million Americans.
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