Pharmacy benefit managers (PBMs) are best known for the tremendous savings they deliver to patients, employers, unions, and taxpayers. By negotiating with Big Pharma, PBMs save patients an average of $1,154 for the nearly 290 million people they serve. That equates to more than $300 billion back in the hands of families and businesses. Some research suggests the savings may be even greater, with one recent study finding that commercially insured patients saved an average of $2,077 annually.
But there’s much more to the PBM story. PBMs improve peoples’ lives by making them healthier. Unlike any single doctor or pharmacy, PBMs can see across a patient’s medication history, past and present. They run instantaneous safety checks that avoid dangerous interactions and save lives. One of the things American patients and families most dislike about our health care system is how fragmented and complex it is; PBMs make it less disjointed – and safer.
Visit: PBM.org
Over the next 10 years, this work will help prevent 1 billion medication errors.
The latest video ad in the PCMA value campaign, “PBMs: Lowering Drug Costs. Protecting Patients” features an important part of this work. It shows how PBMs connect the system and catch things to keep patients safe. They prevent harmful drug interactions that could lead to serious health problems.
The safety, quality, and benefit checks that PBMs run on every prescription can also identify other concerns, including:
- Dangerous drug-to-drug interactions
- Duplicate prescriptions
- Incorrect or unsafe dosing
- Potential allergic reactions
When patients need medications to treat an illness or manage a chronic disease, the last thing they want to worry about is whether one prescription could create risks when combined with another. PBMs help identify potential drug interactions, ensure medicines are appropriate for pregnant women, verify that antibiotics are suitable for children, and much more. That’s why PBMs are in the corner of patients every day, promoting safe, effective access to prescription drugs and helping drive better health outcomes.
Learn more about the value of PBMs HERE.