POLAND, Ohio (June 20, 2014) —In an era of massive consolidation, stability and freedom from corporate constraints are proving attractive to benefit plans and administrators.
On April 25, 2014, Pharmacy Data Management, Inc. (PDMI), a leading provider of pharmacy benefit solutions, celebrated its 30th anniversary as an independent claims processor providing a wide array of services to the pharmacy benefit industry.
Since founding PDMI in 1984 in a room over his family’s Youngstown, Ohio-area pharmacy, Doug Wittenauer, himself a pharmacist, has grown the privately-held company into the tenth-largest U.S. PBM based on revenue from unbundled services, according to Business Insurance magazine’s 2011 “Data Snapshot.”
“More important than our size, though, is what our independence means to our clients,” said Wittenauer. “We don’t have shareholders, so our primary concern is exceeding the expectations of our clients and their members. We also have zero financial interest in drug manufacturing or distribution, which assures our clients that they’re receiving completely unbiased advice and services. And we’ve been around for 30 years—today, that kind of stability is hard to find in this industry. We’re proud of that.”
What began as a ‘behind the scenes’ claims processing and adjudication service has expanded to include consultative, pharmacy network and ancillary services, all designed to simplify the management of the full spectrum of pharmacy benefits programs, including complex government pharmacy programs like Medicare and 340B (a program to provide lower-cost medications to at-risk populations).
“PDMI is unique in our approach; we concentrate entirely on our clients’ objectives, create custom solutions for achieving them and have a relentless focus on client service,” said Karen Cessna, PDMI Director of Sales. “Being independent makes all that easier. It allows us to accommodate our clients in ways other large, monolithic PBMs just can’t because of their bureaucracy or shareholder concerns.”
About PDMI
Pharmacy Data Management, Inc. (PDMI), founded in Poland, Ohio, in 1984, provides technology and other solutions for managing health through prescription drug programs for national and regional health plans, hospice organizations, 340B and drug manufacturer assistance programs and other health care-related industries.