PBM tools slowed Rx spending growth in 2010

WASHINGTON — Pharmacy benefit management tools helped slow prescription drug spending growth from 5.3% in 2009 to 3.5% in 2010, according to a new study by the Centers for Medicare and Medicaid Services.

One PBM tool that helped was tiered co-pays that shifted medication use toward lower-cost generic drugs.

“This new research confirms that innovative PBM tools — including incentivizing the use of generic medications — lower costs for consumers and payers,” said Mark Merritt, president and CEO of the Pharmaceutical Care Management Association, a trade group for PBMs. “Payers and policy-makers alike should explore greater use of PBMs’ cost-saving tools and reject policies that make it harder to reduce prescription drug costs.”