Pharmacy benefits: Why and how you should reconsider your plan and PBM
What employers and their consultants need to know to make the right decisions on their prescription drug plans.
All you need to know about PBMs
- How did pharmacy benefit managers start?
- Who regulates PBMs?
- PBMs role today : relations with stakeholders
- PBMs core value proposition : Reducing drug costs
- How PBMs do make money?
- A market dominated by an oligopoly.
- Prior authorizations and Step-Therapies “In name only”.
- Prescription drug prices have been up at a high pace in the last ten years.
- A huge financial burden for plan sponsors and members.
How to choose your PBM
- Choose the right metrics.
- What to ask for ?
- How to put “pressure” on specialty drugs prices.
- How to negotiate a short, clear unambiguous agreement banning all “bad” practices.