Views- How to improve pharmacy benefit management

The role of a Pharmacy Benefit Manager is to reduce the cost of prescription drugs through negotiations for deeper network discounts, higher manufacturer rebates and the application of clinical programs that direct members to the right medications.
The entire process is understandably complex and pricing isn’t always transparent — which can foster distrust in the system. Moreover, most PBMs receive compensation for each prescription filled, rather than for patient outcomes or eliminating inappropriate overutilization. Is there a better way for PBMs to deliver their services? Since prescription costs account for 20% of medical spending in the U.S. and are increasing at a rate higher than medical costs, it’s an important question.

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Employee Benefit News

by Michael A. Perry