Customer satisfaction in the business-to-business (B2B) world is essential to company success. The stakes are particularly high in areas like pharmacy benefit managers (PBMs). PBMs are responsible for helping to manage tens of thousands or even tens of millions of dollars in plan sponsor spend in any given year. They are also part of the equation for employee engagement and satisfaction with their employer.
Drug benefits are important to employees. A survey published by the Harvard Business Review in 2017 found that better health, dental, and vision insurance would be given either heavy consideration (54%) or some consideration (34%) when deciding between a high paying job and a lower-paying job with more benefits and perks. This makes sense considering that nearly half of all Americans have used at least one prescription drug in the last 30 days. Drug benefits are one of the most frequently used benefits offered, so for employers, ensuring they provide a valuable benefit that can attract, retain, and keep employees healthy is critical.
Because of this importance, this is the 24th year that PSG’s Pharmacy Benefit Management Institute (PBMI) has surveyed and reported on satisfaction that plan sponsors have with their PBM. Given the number of years that we at PBMI have been studying this topic, it might be interesting to see what has changed and what hasn’t over the years.
What has changed in the PBMI PBM Customer Satisfaction Report (CSR)?
What hasn’t changed over the years?
However, customer satisfaction is not only the responsibility of the PBM. Employers and health plans are responsible for clearly defining and communicating their expectations and requirements but PBMs, as the providers of services, are ultimately accountable for delivering on promises made. We are happy to report that they generally perform quite well.
Would you like to learn more? The 2019 PBM Customer Satisfaction Report is available for purchase online.
 Jones K. The Most Desirable Employee Benefits. Harvard Business Review. February 15, 2017. Available online at https://hbr.org/2017/02/the-most-desirable-employee-benefits. Accessed June 14, 2019’.
2]Centers for Disease Control and Prevention. Therapeutic Drug Use. Last updated January 19, 2017. https://www.cdc.gov/nchs/fastats/drug-use-therapeutic.htm. Accessed June 14, 2019.