What is a pBm?
US EXPERIENCE ON PBM Savings
A Pharmacy Benefits Manager (PBM) is a solution that specializes in the management of prescription benefits, focused on reducing unnecessary drug and medical costs while optimizing drug use to enhance health.
PBM capabilities include customizable hierarchy of operational, network, technical, financial, and clinical initiatives proven to reduce drug & medical costs while enhancing health care quality.
PBM solution clients include private health insurance companies, government-run health insurance programs, and third party administrators.
In the United Arab Emirates, MedImpact Arabia clients experienced an average of 27% savings on outpatient drug expenditure through unique rejections at the point of dispensing
47% of all rejections made by MedImpact Arabia were related to clinical edits such as drug-to-drug interaction, gender, age, dosage, therapeutic duplication, and drug-diagnosis checks.
SOURCe OF SAVINGS
•Real-time member eligibility verification
•Real-time Drug Utilization Review
•Real-time Clinical Edits and Checks
•Disciplined plan design administration
•Reduced fraud & abuse by patients, pharmacies and physicians
•Management of a preferred drug list/formulary
•Retrospective clinical programs
•Reduction in medication errors and adverse drug events.
•Enhanced patient compliance