Washington, D.C.— Abarca is proud to announce it has been again awarded URAC’s Pharmacy Benefit Management (PBM) Accreditation. This designation was given in recognition of Abarca’s high clinical, quality, and service standards.
After undergoing URAC’s rigorous evaluation process, Abarca demonstrated full compliance with all URAC PBM Accreditation standards and earned a score of 100 percent from the URAC Accreditation Committee. The company also received a perfect score when it was last considered for accreditation in 2014.
“URAC is the gold standard in PBM accreditation,” said Jason Borschow, president & CEO of Abarca. “I am extremely proud to work with a team that constantly pursues a better way to conduct business and serve members. We are always holding ourselves to a higher standard, and this recognition from URAC shows the results of that commitment.”
Among other key measures of success, a URAC-accredited PBM program:
- Meets critical benchmarks in service quality
- Has processes to identify consumer safety issues
- Promotes rational, clinically appropriate, safe and effective drug therapy
- Includes review of the therapeutic advantages of drugs based on scientific evidence and standards of practice
- Adheres to standards for P&T committee membership representation, its functions, and responsibilities
- Provides for a formulary appeals process, including peer clinical review
- Ensures the formulary is up to date
One example of Abarca’s high clinical and service standards can be seen in the Hepatitis C care management program it developed for five health insurance plans. This program focused on monitoring adherence, addressing gaps in care coordination, and providing high levels of patient and provider engagement. The program realized an overall medication adherence rate of 94.6% and $1.3 million in savings by switching patients to lower cost — but equally effective — therapies.