They oversee and negotiate how much you and your insurance spend on prescriptions, but are pharmacy benefit managers (PBMs) just adding to the bill?
What are Pharmacy Benefit Managers?
PBMs, a middleman in the pharmaceutical marketplace, were first introduced in the 1960s and were created to negotiate on behalf of an individual and their insurance with drug manufacturers and pharmacies on the price of a prescribed drug.
Since then, PBMs have also managed how the web of rebates, reimbursements, refunds and fees will work.