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What is a Pharmacy Benefit Manager?

What are PBMs?

Pharmacy Benefit Managers (PBMs) are responsible for rising prescription costs and restrictions that leave both local pharmacies and patients in the lurch. PBMs are the middlemen of the pharmacy industry, driving up drug costs and placing profit-driven restrictions on what drugs are covered under insurance. While drug manufacturers, wholesalers, and retailers all must comply with regulations that advocate for patient safety and wellbeing, there is no current oversight of PBMs. Their goal is to maximize profits for their shareholders, without regard for how these added requirements impact drug costs and access for patients. This not only results in higher drug costs for you, it also limits what pharmacies you can use, and makes it harder for local, independent pharmacies to compete with big, out-of-state chains.

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Published on Feb 01 2020

Last Updated on Feb 04 2020

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