PBMs Continue to Fight Rising Drug Prices
For decades, PBMs have provided patients and health plan sponsors with critical services and programs to help reduce the cost of their prescription drugs and allow patients to live healthier lives. During COVID-19, PBMs’ role in the health care system is more essential than ever.
During these difficult times, drug manufacturers have continued increasing their drug prices, including for medications for respiratory-related issues.
PBMs use innovative, consumer-friendly market-based tools that encourage competition among drug manufacturers. While manufacturers alone set drug prices, once those prices are set, PBMs leverage marketplace competition to negotiate rebates with manufacturers to reduce prescription drug costs for consumers. These savings are used to lower enrollee premiums and to keep down the cost that consumers pay at the pharmacy counter.
During a global pandemic and beyond, PBMs help patients feel better and live well by fighting to keep costs low for their vital medications.
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Pharmacy benefit managers (PBMs) are your advocates in the health care system, working to lower out-of-control prescription drug costs for patients across the country.