A new report by the National Center for Policy Analysis (NCPA) has found that Florida could save upwards of $2.1 billion by modernizing its Medicaid pharmacy program, including greater utilization of tools, such as preferred pharmacies and generic medicines.
The analysis found:
– 11 percent of the overall savings would come from paying market-based, competitive dispensing fees.
– Almost one-fourth (24 percent) of the savings total would come from greater use of generic medications.
– More than half (59 percent) of the savings would come from greater use of lower cost preferred pharmacy networks.
You can read the full analysis here.