Employers Want Transparency from Pharmacy Benefit Managers

November 30, 2007 (PLANSPONSOR.com) - The Pharmacy Benefit Management Institute's (PBMI) 2007 Pharmacy Benefit Manager Customer Satisfaction Report documents a strong correlation between transparency and employer satisfaction.

According to a press release, the PBMI research shows that employers who are “extremely satisfied” with the financial transparency of their PBM relationship gave their PBMs an average overall service and performance rating of 8.8 on a 10-point scale, with 10 being the highest rating. By comparison, employers who are “somewhat satisfied” with financial transparency gave their PBMs an average performance rating of 7.9, while those who are “somewhat dissatisfied” or “extremely dissatisfied” with financial transparency rated their PBM’s performance at 7.5 and 5.9, respectively, the release said.

“PBMI’s 2007 research findings reinforce that the way PBMs conduct business does impact employer satisfaction with their services,” says Dana H. Felthouse, president of PBMI. “This research supports the increasing levels of collaboration PBMI sees among payers, pharmacy benefit managers, and prescribers to provide medically appropriate and cost-effective drug therapy to Americans.”

The survey asked U.S. employers to rate their PBMs on three overall satisfaction measures and 15 individual dimensions of service. More than 440 employers representing 15.4 million beneficiaries nationwide participated in the 2007 survey.

In addition to trend information on employer satisfaction with PBMs, the 2007 report provides comparative information on the service performance of 18 individual PBMs.

The report is available for purchase at www.pbmi.com or by calling 480-730-0814.