Understanding the basics when it comes to pharmacy benefits management (PBM) can be very beneficial to procurement managers trying to find cost savings in unfamiliar territory.
Pharmacy pricing is a hot topic. Politicians and news editors lace their speeches or headlines with stories about hyper-inflated prices for select medications. Business executives and human resource departments continue to see pharmacy as the fastest growing component of health care trend. Patients experience the cost increases first hand as a greater share of the cost is pushed their way through high deductible plan designs.