The New York Times this week began an in-depth look at pharmacy benefit managers: the companies that administer the prescription drug benefits of more than 200 million Americans.
As the Times notes, only three companies dominate the market, and its report examines when, how, and if PBMs save money for insurers and consumers; how they charge for prescription drugs; how they influence consumer access to prescription drugs – and the timeliness of that access; the effect they are having on independent pharmacies; how they make money; the influence they have on the price of prescription drugs; and more.
Learn more about PBMs, what they do, and how their efforts affect consumers, providers, taxpayers, and their own shareholders from the New York Times article “The Opaque Industry Secretly Inflating Prices for Prescription Drugs.”