Latest Edition: US Pharmacy Benefit Management (PBM) Industry 2015 - How Does It Reducing the Overall Drug Spending Costs for Plan Sponsors
Pharmacy Benefit Management (PBMs) initially enacted the role of a third-party administrator, administering the drug claims of health plans/employers. However, they widened the horizon by expanding into a wide variety of business functions, eventually resulting in better management of drug benefits for members and reducing the overall drug spending costs for plan sponsors. Some of the key functions performed by PBMs that have an impact on reducing drug expenditures are formulary and benefit plan designing, retail network management and operating...
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