Pharmacy benefit manager solutions help 266 million Americans access safe and affordable prescription drugs
Pharmacy benefit managers (PBMs) are hired by health plans to manage the prescription drug portion of their health coverage. Typical plans include commercial health plans, self-insured employer plans, union plans, Medicare Part D Plans, Federal Employees Health Benefits Program, State government employee plans, and Medicaid plans.
PBMs use different solutions to produce cost savings for 266 million covered Americans
The solutions include:
- Negotiating rebates from drug manufacturers
- Negotiating discounts from drugstores
- Offering more affordable pharmacy channels
- Encouraging use of generics and affordable brands
- Reducing waste and improving adherence
- Managing high-cost specialty medications
PBM solutions save $654 billion for consumers, employers, unions, and government programs over the next decade. That is a savings of $941 per patient per year.