The news is out, and it isn’t pretty. According to leading pharmacy intelligence company PSG’s 2023 PBM Customer Satisfaction Report, the overall Net Promoter Score (NPS) in the PBM industry decreased from 38 in 2021 to just 8 in 2023.1 That marks the lowest satisfaction with PBMs among decision-makers from employer groups, health plans, and health systems since 2014.
Where do PBMs have room to improve? One of the key opportunities identified in the PSG research is drug spend. A third of respondents (32%) were either neutral or disagreed when asked if their PBM is a proactive partner in managing drug spend. The report also highlighted faster response times and issue resolution as another area for improvement.
In a PBM marketplace that is more competitive than ever, customer satisfaction represents a key differentiator that increases both customer retention and lifetime value. An independent medical review organization like Medical Review Institute of America (MRIoA) can help PBMs be more proactive and more timely in managing drug spend in order to increase client satisfaction.
Improving Drug Spend Management
MRIoA helps PBMs actively manage drug spend with timely High-Cost Specialty Drug Reviews performed by expert reviewers on MRIoA’s nationwide panel. MRIoA helps ensure patients are receiving clinically appropriate specialty drugs through peer-to-peer consults with the prescribing provider. Our Pharmacy Reviews also help PBMs implement cost-saving solutions while increasing member satisfaction and ensuring members have access to the right medications at the right time.
For PBMs looking to take customer satisfaction from lukewarm to loyal, there’s never been a better time to partner with MRIoA. To learn more about the potential MRIoA holds for your organization, contact us today.
By Byron Harris, Vice President of Pharmacy Programs, Medical Review Institute of America (MRIoA)
1 PSG, Fall 2023, Pharmacy Benefit Manager Customer Satisfaction Report