INDUSTRY WATCH: January/February 2015

PCCA Forms Preferred Provider Network

PCCA has announced that it is
forming PersonalMed, a preferred provider network of Pharmacy Compounding
Accreditation Board-accredited PCCA member pharmacies. PersonalMed
represents a strategic approach to pharmacy benefit management, similar to
health insurers’ preferred provider organizations, in which hospitals and
physicians accept a prenegotiated fee schedule in order to be included as
preferred healthcare providers.

A recent study by Milliman Consulting shows that payers’ overall drug
spending can be reduced by up to 13% by using a preferred provider network
of pharmacies. PersonalMed will represent participating pharmacies in
negotiations with third-party payers and pharmacy benefit managers by
establishing the terms of the group’s relationship with these third
parties, including the reimbursable formulary, pricing, credentialing
requirements, inspections, auditing, and other terms. To achieve deeper
savings for payers and patients, PersonalMed will offer a fully
transparent and predictable pricing model through a prenegotiated fee
schedule.

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