PCMA outlines $100 billion in Rx drug savings in USA

As the USA’s Joint Select Committee on Deficit Reduction examines options to reduce the deficit by $1.5 trillion over the next 10 years, the Pharmaceutical Care Management Association (PCMA) outlined in a letter to the committee opportunities to leverage greater use of pharmacy benefit management (PMB) tools to save more than $100 billion in prescription drug costs over that same time period.

"Everyone in the pharmacy community: drugstores, pharmacy benefit managers, drug companies, drug wholesalers and others have a responsibility to offer cost-saving solutions to this committee," said PCMA president and chief executive Mark Merritt, noting: "The solutions we outline would save more than $100 billion, improve prescription drug benefits, and increase access to these benefits."

Using innovative cost-saving tools and technologies, PBMs have worked closely with payers in designing drug benefits that lower costs and expand access to prescription drugs. These tools - including pharmacy networks, home delivery, utilization management (such as step therapy and prior authorization) and formularies - help make prescription drug benefits more affordable, the Association says.