States can save billions by switching to most cost-effective pharmacy benefit model
For millions of Americans, buying drugs from a Canadian online pharmacy can be a cost-effective way to acquire the medications they need.
For millions of Americans, buying drugs from a Canadian online pharmacy can be a cost-effective way to acquire the medications they need. In a recent white paper from the National Center for Policy Analysis, entitled "Increasing the Cost-Effectiveness of Medicaid Drug Programs," the organization suggested that transitioning to a more efficient and affordable pharmacy benefit model could save billions of Medicaid dollars without limiting patient access.
The report is based on the findings of a recent study in which researchers found that federal and state governments could save $33 billion over the next 10 years by adopting similar management strategies as Medicare and commercial programs.
"This latest research confirms that Governor Rick Perry and Texas policymakers are on the right track," said Mark Merritt, president and CEO of the Pharmaceutical Care Management Association. "Medicaid shouldn't pay more for drug benefits than private insurers and Medicare."
He added that the program currently uses fewer generic drugs and pays more than triple the fees, compared to Medicare and private insurers. Modernizing the system could enable the state of Texas to save billions without cutting benefits to individuals in need.
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