Report: How to Save $74B in Medicaid Drug Costs
A new report contends that upgrading Medicaid drug benefit programs would save $74.4 billion over 10 years without reducing benefits or the number of enrollees.
A new report contends that upgrading Medicaid drug benefit programs would save $74.4 billion over 10 years without reducing benefits or the number of enrollees.
The Pharmaceutical Care Management Association sponsored the study, which consulting firm The Menges Group conducted. Savings in the report would total $43 billion to the federal government and $31.4 billion to states.
The savings would include $23.5 billion by increasing use of generic drugs, $12.5 billion by negotiating market-based pharmacy dispensing fees, $33.4 billion by using limited pharmacy networks, $2.7 billion by encouraging use of more affordable preferred brands, and $2.3 billion from reducing drug diversion, polypharmacy (patients prescribed too many medications with too little coordination), fraud and waste.
The report is available here.
The Pharmaceutical Care Management Association sponsored the study, which consulting firm The Menges Group conducted. Savings in the report would total $43 billion to the federal government and $31.4 billion to states.
The savings would include $23.5 billion by increasing use of generic drugs, $12.5 billion by negotiating market-based pharmacy dispensing fees, $33.4 billion by using limited pharmacy networks, $2.7 billion by encouraging use of more affordable preferred brands, and $2.3 billion from reducing drug diversion, polypharmacy (patients prescribed too many medications with too little coordination), fraud and waste.
The report is available here.
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