BONITA SPRINGS, Fla., May 23, 2018 /PRNewswire/ -- BeneCard PBF, a purely transparent pharmacy benefit manager (PBM), has measurably lowered fraud, waste, abuse and client costs related to opioids, through focusing on patient safety and appropriate utilization.
BeneCard PBF has reduced prescription opioid utilization by 67% as a percent of total prescriptions, and lowered the amount spent on opioid medications by 21% per life, per month during the 20-month period ending August 2017. The PBM's enhanced management of opioid medications is ahead of the curve and has helped to reduce utilization by ensuring that prescription opioids are used appropriately. The Vydahl Group's third-party analysis of BeneCard PBF's fraud, waste and abuse prevention programs confirms that the company has outperformed other PBMs in the marketplace.
Over the past two decades, opioids have become a highly-prescribed go-to solution to address pain. Overutilization has led to significant increases in opioid addiction and deaths across the U.S. While the opioid crisis is now national news, BeneCard PBF has been actively managing opioid prescriptions since 2009, when it unveiled a proprietary claims processing platform. The company's proactive, effective oversight has improved patient outcomes and produced measurable healthcare savings.
"Our opioid management programs were established nearly a decade ago and continue to improve in terms of efficacy and client savings. Research published by the CDC demonstrates a direct correlation between the duration of prescription opioid use and the risk of addiction. Through our clinical programs, we fight addiction while ensuring members receive the treatment they need to address their pain. This effort improves health outcomes and eliminates dangerous and inappropriate care," reports Michael Perry, BeneCard PBF President.
Read Vydahl's assessment here.
About BeneCard PBF
While prescription drug costs continue to rise at a rate of 30 to 40% higher than medical rates, primarily due to specialty drugs, BeneCard PBF's clinically focused, ethical and purely transparent approach to pharmacy benefits management continues to reduce costs for plan sponsors. A 2017 trend of 0.83% further validates the business model that BeneCard PBF has pioneered in the PBM space. Through proactive clinical programs, including pharmacogenetics and functional medicine, BeneCard PBF enhances patient outcomes while lowering prescription drug costs. With offices in Florida, Pennsylvania and New Jersey, BeneCard PBF administers fixed-rate and self-funded prescription benefit programs. The company offers innovative solutions to control costs while providing the highest quality service available in prescription benefit management. For more information, please visit benecardpbf.com.
About Vydahl Group
The Vydahl Group is a leading-edge corporation focused on the science of healthcare strategy and metrics, providing clinically based data insights and analysis. Vydahl supports payers, providers, and self-insurance employers: turning data into actionable metrics and solutions by interpreting complex data and identifying emerging trends.
SOURCE BeneCard PBF