An employer group finds that 13 pharmacy benefit managers are willing to operate transparently in their drug contracting dealings with their clients.
Five pharmacy benefit managers have been certified as willing to provide full transparency in their drug contracting with employers in 2008, and eight PBMs have received recertification. So stated the HR Policy Association Pharmaceutical Coalition, which is an alliance of leading employers in this country formed in 2004. The 13 PBMs are Aetna Pharmacy Management, BlueCross and Blue Shield of Alabama, CVS Caremark, Catalyst Rx, Cigna Pharmacy Management, Express Scripts, Humana Pharmacy, Medco Health Solutions, Prime Therapeutics, RESTAT LLC, SXC Health Solutions, Walgreens Health Initiatives, and WellPoint NextRx. According to the coalition, these PBMs have passed its Transparency in Pharmaceutical Purchasing Solutions (TIPPS) standards. This means they promote contracting that makes it easier for employers and their beneficiaries to understand the true price of a drug and eliminate the "shell game" that once ran rampant in the PBM market.