Pharmacy benefit managers today have over two hundred million Americans as beneficiaries including sixty-five percent of the country’s seniors (AIS). This solution, implemented in the late 1980s, provided both employers and pharmaceutical companies a much more efficient and cost-effective method of healthcare provision to employees in the United States. PBMs supply prescription drugs at reduced prices to their clients’ employees. They draw up drug formularies, analyze clinical-trials data, and bargain with pharmaceutical companies, offering to deliver all their business to one company in exchange for a discount. However,... [continues]
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