The PBM Advantage for Patients
For Americans like Brittany, having a PBM in their corner alleviates worry.
Pharmacy benefit managers (PBMs) administer prescription drug plans for more than 266 million Americans with health insurance – from those using Medicare to people insured through their employer. Through PBMs’ work, patients like Brittany receive reliable and affordable access to prescription medications they desperately need.
In Brittany’s case, she saves more than $4,100 a year on medication she needs to help her lead a healthier life, including prescription medications for attention issues and bipolar disorder – thanks to her pharmacy benefit manager.
PBMs use many tools to lower prescription drug costs. They encourage the use of generic medications; negotiate rebates from drug manufacturers; fight for discounts from pharmacies; manage the cost of expensive specialty medications; and work to reduce waste and medical errors.
PBMs lower the cost of prescription medication by 40% to 50%, saving payers and patients an average of $962 per person each year, according to the association. Put another way, for every $1 spent on PBMs, those same PBMs reduce costs by about $10.
“My life changed from just existing to living,” she said. “I was able to form meaningful relationships. I was able to keep jobs long-term and actually move up in companies because my true self was able to shine.”
Check out the ways PBMs are helping advocate for patients like Brittany every day.
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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.