SOURCE: Broadreach Medical Resources

Broadreach Medical Resources

November 12, 2009 08:00 ET

Broadreach Medical Resources Featured on Luncheon Panel for Prescription Benefit Management Financial Analysts With RESTAT

BMR Reports 74% Generic Drug Utilization Rates in Taft Hartley Type Plan

NEW YORK, NY--(Marketwire - November 12, 2009) - Broadreach Medical Resources (BMR) reported today that they co-sponsored a luncheon panel on October 30, 2009 at the NY Racquet Club for financial and industry analysts covering the Prescription Drug Management sector. The panel discussion provided insight into the state of Prescription Benefit Management (PBM) and the reform proposals that the United States government is considering. On the panel were senior executives from BMR as well as a senior executive from BMR's partner, Wisconsin-based RESTAT, a PBM that covers six (6) million lives.

"We were fortunate to co-sponsor a panel focused on how our industry and BMR are working to improve healthcare costs through lowering prescription drug spending," said Wayne Fleischman, COO of BMR. "BMR works closely with its clients to develop programs, like generic drug utilization. As a general rule, we have found that for every 1% increase in generic drug penetration, clients can lower their drug spend by 1.5%. BMR has one of the highest generic fill-rates in the industry, with actual Taft Hartley client results above 75%."

RESTAT and BMR reported that the market place was hungry for new pricing strategies.

"Mail order distribution can be an efficient facilitator to lowering prescription drug spending," said Malcolm Howard, BMR's VP of Business Strategy. "Today, most PBM's are not giving back a significant portion of what they bring in through generic mail order distribution. BMR passes all savings directly through to the client, realizing revenue only through an administrative fee."

"On the subject of reform, what we see today in the proposed reforms indicates that PBM's are better positioned to function in a single payer system, if it should head in that direction, than the insurers would be," emphasized, Wayne Fleischman. "PBM's can partner more effectively with the government to provide these services."

Additionally, the panel addressed questions from the audience covering prescription drug pricing calculations, spread pricing practices, generic penetration thresholds, and industry margins.

About Broadreach Medical Resources

Broadreach Medical Resources (BMR) is a Pharmacy Benefit Administrator (PBA) that looks beyond traditional practices to design, optimize, and transform prescription drug benefit programs to deliver guaranteed measurable savings. BMR provides self-funded employers, unions, and other payers customized prescription drug benefit programs that offer transparent "full-pass-through" pricing, well-balanced discounts, access to competitive rebates, clinically appropriate therapies and risk management services. For more information about BMR, visit its web site at http://BMR-INC.com

Contact Information

  • Contact info:
    Jim Laietta
    Media Relations
    e5 Marketing Inc. for Broadreach Medical Resources
    862-432-6266 office
    Email Contact