The Department of Human Services’ State Pharmaceutical Assistance Program (PAP) primarily assists seniors by paying for their prescription drugs. The department has partnered with ScriptGuideRX Inc. to reduce the cost of providing affordable prescription coverage for beneficiaries of PAP.
ScriptGuideRX Inc., a privately held Pharmacy Benefit Manager (PMB), specializes in assisting plan sponsors to simultaneously manage prescription costs and provide affordable healthcare to beneficiaries. Recently, it provided a quarterly PAP Plan Performance Report on the V.I. Department of Human Services.
Its vice president, Dr. Ime Ekpenyong, said, “The report also reflects accomplishments of the PAP since its inception on May 1, 2015. The following are highlighted areas of achievements which are inclusive, but is not limited.”
1. Implementation of an all-inclusive pharmacy network program that provides beneficiaries with access to all pharmacy locations on the U.S.V.I. and major chains across the United States.
2. Implementation of cost savings mechanisms that resulted in a 47 percent decrease in the programs cost, a $239,925 savings.
3. Continuously working with drug manufacturers to optimize rebate opportunities, resulting in collection of $11,465.96 in rebates for the Department of Human Services.
4. Implemented a drug formulary that emphasizes the use of generics, over-the-counter and cost-effective brand name medications.
5. Working with the VIPAP team to reduce waste and improve adherence
“The PAP serves 685 seniors territory-wide, and the program’s viability is dependent upon the availability of funding. We must find a balance between managing the cost of prescription medicine while maintaining sound and affordable healthcare delivery services,” said Dr. Celia Victor, administrator of residential services.
“It is equally important that we reach those individuals 60 years and over who struggle to pay for their medications or even sacrifice their health because of other daily expenses. This $11,465.96 in rebates will be integrated back into the program for marketing and to enhance specific program areas,” said Assistant Commissioner Turnbull-Krigger
