DALLAS, TX (October 19, 2022) – Pharmaceutical Strategies Group (PSG), an EPIC company, has released its 25th annual 2022 Pharmacy Benefit Manager Customer Satisfaction Report. This extensive report represents the most comprehensive satisfaction research survey in the pharmacy benefit manager (PBM) space, providing unparalleled data and insights.
PBM satisfaction rankings in 2022
There was a notable downturn in overall satisfaction levels, as well as in some core measures of general satisfaction such as likelihood to recommend. Possible drivers included both an uptick in drug trend (see the Artemetrx Specialty Spend and Trend Report for more details) as well as negative public sentiment toward PBMs post-pandemic. Satisfaction with specific PBM services and functions were similar to last year.
“Broad measures of satisfaction with PBMs showed declines compared to last year. On more specific satisfaction items, we found a nuanced story of strengths and weaknesses, as well as segments at greater risk for dissatisfaction. Our findings highlight the importance of evaluating a PBM based on a wide variety of services and functions that are critical to a positive experience,” said Morgan Lee, PhD, MPH, CPH, PSG Senior Director - Research & Strategy.
Health plan vs. employer satisfaction
Survey respondents’ satisfaction on various metrics was also segmented by plan sponsor type, size of PBM (>20 million vs ≤20 million members), and length of time with PBM. Overall, and on nearly every service and function, health plans reported significantly lower satisfaction with their PBM than did employers.
“Health plans are under increasing pressure as they face ever-growing market competition and client demands. PBMs are experiencing the same challenges, and to be successful, they must demonstrate flexibility, and offer a breadth of programs, at a minimum,” commented Beth Hebert-Silvia, RPh, PSG Senior Vice President - Health Plans Practice Leader. “PBMs must also highlight their abilities to partner at a level that supports the attraction and retention of clients.”
Clinical and Cost Management Programs
Most PBMs offer clinical and cost management programs aimed at delivering improved clinical and financial outcomes. The survey explored these programs in detail, including respondents’ awareness of, use of, and satisfaction with various programs. Utilization management scored high in terms of usage, while most respondents were not satisfied with their PBM’s medical benefit management.
The special topics section covered in the report includes responses on areas such as biosimilars, social determinants of health, and gene therapy.
About the 2022 Pharmacy Benefit Manager Customer Satisfaction Report
This annual report summarizes overall satisfaction with pharmacy benefit managers and satisfaction with over 40 PBM functions and services beyond overall satisfaction. The most comprehensive research of its type for the PBM space, it is widely recognized for the comparative information it provides to benefit executives responsible for researching, selecting, and managing PBMs. Survey participants included health plans, employers, health systems, and labor unions who seek detailed intelligence to enhance their ability to strategically manage pharmacy benefits.
About Pharmaceutical Strategies Group (PSG)
Pharmaceutical Strategies Group, an EPIC company, relentlessly advocates for clients as they navigate complex and ever-changing drug cost management challenges. PSG’s innovative drug management solutions, including the proprietary data and analytics platform, Artemetrx®, deliver actionable insights with exceptional financial and clinical value. PSG functions as a strategic partner through industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year. www.psgconsults.com
Download the 2022 Pharmacy Benefit Manager Customer Satisfaction Report to learn more