Tuesday, May 13, 2014

Plan Sponsors' Satisfaction With PBMs Remains Relatively Unchanged

The Pharmacy Benefit Management Institute (PBMI) released its 2014 PBM Customer Satisfaction Report based on its annual survey of drug benefit plan sponsors. The report shows a mean overall satisfaction score of 7.5 on a 10-point scale, a result that has remained relatively unchanged for the past five years. The 2014 survey was completed by 394 U.S. plan sponsors representing more than 64.7 million enrollees. 

PBMs are rated not only on their overall performance, but also on specific functions and services, including those related to specialty ("biotech") drugs. The survey is regularly updated to reflect market trends. This year's survey included two new service dimension ratings: commitment to good customer service and meeting financial guarantees. 

The following highlights key findings from the report:
  • Comparing plan sponsor types (health plans, employers, and unions), little variation is found in overall satisfaction or satisfaction with specific service dimensions, PBM functions, or non-core services.
  • The percentage of respondents indicating that their financial relationship with their PBM is completely transparent grew significantly this year, up to 44% versus 35% in 2013.
Read more: http://www.digitaljournal.com/pr/1848618#ixzz31bU0BKR7

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