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PBMI Research Shows Employer Satisfaction with PBM Formulary Management Ranks Highest Again

1087 Days ago

2019 PBM Customer Satisfaction Report Released Today

PLANO, Texas, June 05, 2019 (GLOBE NEWSWIRE) -- The Pharmacy Benefit Management Institute (PBMI) released its 2019 PBM Customer Satisfaction report today. Results show once again that employers’ satisfaction with PBM formulary management is the highest rated noncore service dimension (7.8 out of 10). Formulary management is an important component of drug benefit plans. A new question was added, asking employers about their satisfaction with PBM formulary customization. Many employers are interested in custom formularies to address the specific needs of their organizations and members. Satisfaction with this dimension averaged 7.5 out of 10.

“The pharmacy benefit management landscape is very competitive, with most PBMs performing quite well. The overall average satisfaction score across all PBMs is 8.0 out of 10,” says Dr. Sharon Frazee, Senior Vice President of Research and Data Innovation for PBMI. “However, as plan sponsors make plans for which PBM best meets their needs in managing the prescription benefit, they need insights into the specific aspects of PBM performance most important to them. This report includes views from 536 employers on their satisfaction with their PBM across more than 40 key functions and service dimensions.”

New for this year is a spotlight section specific to employer satisfaction with PBM cost-sharing management. Cost sharing is a critical component of the drug benefit. Employers gave an overall average satisfaction score of 7.8 out of 10 for their PBM’s management of cost sharing. The report also includes satisfaction scores of PBMs offering copay programs (i.e., copay accumulator and copay maximizer programs).

This is the 24th year PBMI has published the report. It is available for purchase online.

About PBMI

The Pharmacy Benefit Management Institute (PBMI) is the nation’s leading provider of research and education that informs, advises, and influences the industry on topics related to drug cost management. PBMI offers research, continuing education, and web resources to help all critical stakeholders work better together to optimize the overall value of drug benefit programs. To learn more, visit www.pbmi.com.

Julie Blackman

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