PBMs Promote Access to Generic Medications
Keeping up with the rising costs of prescription medications while relying on them for life-saving care is not a position any American should be in. That’s why Pharmacy Benefit Managers (PBMs) are constantly working to drive prescription drug costs down for the 266 million patients they serve. One of the most efficient ways PBMs achieve this is by encouraging safer, cheaper, generic alternatives to name brand drugs.
Generic drugs are copies of brand name drugs in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use. The difference is that they are often much less expensive than brand names. If a drug is too expensive, it does not just hurt patients and their families’ bottom line; it creates barriers to accessing the medicine entirely. That’s why PBMs are constantly looking for ways to provide patients with safe and effective generic medication options and keep costs low.
To accomplish this, PBMs use innovative utilization management tools, such as lower cost-sharing, incentive programs, and mail-service pharmacies. Increasing the utilization of generic drugs saves money for patients, as well as plan sponsors, allowing greater access to health care for all Americans.
Learn more about the steps PBMs are taking to support the patients they serve.
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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.