PBMs help the entire health care system by driving down prescription drug costs, saving money for patients and health plan sponsors. A new video explains the value that PBMs deliver:
PBMs are the only actors in the drug supply chain dedicated to lowering costs. The primary way PBMs lower drug costs is by negotiating rebates from drug manufacturers and discounts from drugstores. PBMs also create savings by encouraging the use of generics, biosimilars, and other affordable brand drugs, reducing wasteful and inappropriate drug use, improving patient medication adherence, and managing high-cost specialty drugs.
These are real savings, which benefit employers and patients.
PBMs do many jobs that help employers and patients; these include:
- Negotiating rebates from drug manufacturers
- Negotiating discounts from drugstores
- Creating and administering pharmacy networks
- Processing pharmacy claims
- Providing mail pharmacy and home delivery services
- Assisting patients with understanding their pharmacy benefits
Learn more about the value that PBMs provide to patients and health plan sponsors HERE.
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PCMA is the national association representing America’s pharmacy benefit companies. Pharmacy benefit companies are working every day to secure savings, enable better health outcomes, and support access to quality prescription drug coverage for more than 289 million patients.