A World Without Pharmacy Benefit Companies… …Means Employers Would Have to Go it Alone Pharmacy benefit companies play an important and unique role in the drug supply and payment chain. While they are best known for lowering drug costs through
The vast majority of employers and public health programs voluntarily work with pharmacy benefit companies to manage pharmacy benefits. So, what happens when a health plan doesn’t use a pharmacy benefit company? A recent Department of Labor (DOL) Office of the
The vast majority of employers and public health programs voluntarily work with pharmacy benefit companies to manage pharmacy benefits. So, what happens when a health plan doesn’t use a pharmacy benefit company? A recent Department of Labor (DOL) Office of the
In case you missed it, the Pharmaceutical Care Management Association (PCMA) released a new Rx Research Corner blog, by Vice President of Research Amanda Frost, that quantifies what a world without pharmacy benefit companies would look like for employers and
According to University of Chicago economics professor Casey Mulligan, pharmacy benefit companies provide many services to participants across the healthcare system. The value to society of all of these services is a whopping $145 billion. Every. Single. Year. What would happen to
Pharmacy benefit companies play an important and unique role in the drug supply and payment chain. Employers, labor unions, health plans, government agencies, drug companies, pharmacies, and most importantly patients all benefit from pharmacy benefit company services.
Pharmaceutical Care Management Association, the leading PBM trade group, claimed the number of independent pharmacies has actually grown. “Over the last 10 years, the number of U.S. independent pharmacies has increased by nearly 2,000 stores of 8%,” PCMA said in a written statement to the Washington Examiner. “That represents a stable — if not growing — market for independent pharmacies in this country. A healthy independent pharmacy market and strong partnership with PBMs helps to lower prescription drug costs, create competition, coordinate better care, reduce medication errors, and increase medication adherence — all of which is squarely in the interest of pharmacies, patients, and the health care system.”
The new Biden administration has started off strong, taking a thoughtful approach to any number of critical health care issues and pulling back a number of new regulations to take a fresh look at these public policy issues. To avoid
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