Pharmacy Benefit Managers (PBMs) Hold Profit Over Patients

The Pharmaceutical Benefits Manager (PBM), is an organization that provides services, educational programs, and patient support services. They do this by influencing the behavior of pharmacists and physicians to prescribe drugs correctly to maximize their effectiveness. PBM is a middleman between insurance companies and other members of the health sector. Because of their size, they can negotiate large contracts with their customers and negotiate with the pharmaceutical companies and pharmacies for the best prices.

PBM plays a key role in getting the medicines you need at an affordable price and in using your vast resources to negotiate on behalf of insurance companies and clients. PBMs are paid for their services by combining fees, discounts and other means. Because they are vague on the number of discounts obtained, they are subject to constant control. PBMs work with pharmaceutical manufacturers, wholesalers, plan sponsors and pharmacies.

PBMs play an important role in the safety of prescription drug benefit plans. Drug Utilization Review is a life-saving program that requires a review of medications to determine their effectiveness, potential risks and potential interactions between drugs and to mitigate other safety issues. Because PBMs monitor their pharmacy networks, they have access to the patient’s prescription record and can alert patients or physicians to the potential side effects of medications that may occur when combining different prescriptions.

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