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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.”