President Trump Proposes PBMs Pass Through at Least 33% of Rebates; BeneCard PBF's Purely Transparent Model Offers 100% Pass-Through of All Drug Manufacturer Rebates
MECHANICSBURG, Pa., July 11, 2018 /PRNewswire/ -- As national attention focuses more strongly on pharmacy benefit managers (PBMs) and drug costs, the presidential administration has proposed PBMs pass through at least 33% of all rebates collected on drugs covered by Medicare Part D. BeneCard PBF already offers full pass-through of the rebates it receives to its clients.
The call for rebate pass-through is based on concerns that PBMs retain undefined drug rebate amounts for themselves, adding to their profits rather than lowering prices for patients and plan sponsors. BeneCard PBF believes in a more transparent approach to rebates and pharmacy benefit management. The company offers full pass-through arrangements that help plan sponsors clearly see how prescription benefit dollars are being spent. Under BeneCard PBF's transparent model, clients benefit from immediate impact from negotiated improvements in both drug discounts and rebates.
BeneCard PBF's clinically focused model keeps patients at the forefront. Members get the right medication for them, not the medications that create profits for the PBM through rebate retention. The company's experience has proven that a business model driven by patient-centric clinical coordination of care, not rebates, reduces costs.
The result of this focus clearly show in BeneCard PBF's trend. Lower prescription trends equate to savings that compound year after year. Although drug costs continue to rise, and the PBM industry's average seven-year prescription trend sits at 47.80%, BeneCard PBF's seven-year trend is less than half that at 19.67%. Thanks to its clinically focused, ethical and transparent approach combined with adaptable, advanced technology, BeneCard PBF continually outperforms the industry.
BeneCard PBF is a national, full-service Prescription Benefit Manager that excels in patient-centric care. The company defies industry norms and delivers clinically focused, ethical and purely transparent PBM solutions. To achieve proven lower net costs, the company aligns its interests with its clients' needs through proactive clinical programs and award-winning customer service. For more information, visit www.benecardpbf.com or contact Hugh Gallagher at 267-605-6428.
SOURCE BeneCard PBF