PCMA President Mark Merritt Outlines How PBMs Reduce Prescription Drug Costs

PCMA President Mark Merritt Outlines How PBMs Reduce Prescription Drug Costs

Typically, pharmacy benefit managers (PBMs) reduce drug-benefit costs up to 30 percent for more than 266 million Americans enrolled in private and public plans, most notably Medicare Part D. The PBM industry emerged in response to a wave of expensive new blockbuster drugs that began to come to market in the 1990s. Before then, very few patients had “pharmacy benefits.” Today, a patient with insurance coverage may pay a mere $10 copay for a drug that costs 10 times that much.

PBMs introduced a number of patient friendly innovations to reduce pharmacy costs and improve quality.

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