How beneficial are prescription drug programs?
January 31, 2024
A litany of opaque dealings by pharmacy benefit managers was emphasized in last week's article ("Small drugstores, high drug prices," Jan. 24 Weekly News).
To recap, PBMs are middlemen who negotiate with insurance companies as well as drug manufacturers to manage prescription sales and reimbursements from insurance companies to drug stores. PBMs develop formularies (drug lists) to negotiate contracts with manufacturers on what drugs they recommend – taking a sizeable kick-back for themselves – and tell drug stores what prices they can charge – while steering patients to their own in-...