SOURCE: Pharmacy Benefit Management Institute (PBMI)

Pharmacy Benefit Management Institute (PBMI)

October 20, 2016 13:30 ET

PBMI's 2016 Report Shows a Slight Increase in Overall Satisfaction Scores with PBM Services

PLANO, TX--(Marketwired - Oct 20, 2016) - Overall satisfaction with PBMs continues to hold relatively steady with a slight increase from 7.7 in 2015 to 7.8 in 2016. This is just one of the results from PBMI's 2016 PBM Customer Satisfaction Report, released today. The report includes responses from 507 benefit leaders representing employers providing drug benefit coverage for an estimated 54.7 million covered lives.

"Our research shows that PBMs who can deliver high quality services, have aligned goals with clients, and help maintain employee and member satisfaction in turn have highly satisfied customers," says Jane Lutz, Executive Director of PBMI. "In the competitive PBM marketplace, customer satisfaction is a key differentiator. Highly satisfied customers are more likely to renew services with their current PBM and even refer potential customers to their existing PBM."

The following outlines key highlights from the report:

  • Eighty-three percent of plan sponsors say their PBM is aligned with their goals.
  • Average ratings across the service dimensions remained relatively the same.
    • No conflict of interest issues ranked the highest (8.2) similar to last year, while flexibility dropped from a 7.5 score in 2015 to 7.3 in 2016.
  • Ninety-one percent of respondents feel that their financial relationship is somewhat or completely transparent.
  • Five of the nine rated PBM functions scored 8.0 or higher, with retail network options receiving the highest rating (8.5).
  • Slightly more than 0.5 points separated the highest (formulary management) and lowest (consumer education tools) rated noncore services.
  • Delivery of promised services and utilization management received a top score of 7.9 for specialty management dimensions and functions.
  • Plan sponsors rate their likelihood to renew an 8.1.

The 2016 PBM Customer Satisfaction Report is available in electronic format for purchase. This year's report includes profiles for 11 PBMs. Purchase your copy today.

About The Pharmacy Benefit Management Institute (PBMI)
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