pharmacy benefits management

Pharmacy Benefits Management (PBM) involves companies that manage prescription drug plans for health insurers, employers, and government programs. They negotiate with drug manufacturers for discounts, decide which medications are covered, and process prescriptions. PBMs aim to provide patients with access to necessary medicines while controlling costs for payers. They also develop programs to promote the appropriate use of medications and monitor drug utilization. Overall, PBMs act as intermediaries to ensure efficient, cost-effective access to prescription medications within the healthcare system.