A great deal of attention is being focused nationally on prescription drugs because of concerns about rising costs and lack of coverage in select populations. Spending for prescription drugs is one of the most rapidly growing components of health care. Price increases, unit growth, and a growing dependence on the newest and most expensive medications have all contributed to this surge in spending.
More employers are using third party administrators known as Pharmacy Benefit Managers, or PBMs to administer their prescription benefit plans. PBMs are typically able to maintain discount contracts with a network of pharmacies, adjudicate claims in real-time, provide customer service support, pay pharmacies for covered prescriptions, employ a clinical staff to keep current with the changing pharmaceutical landscape and report plan results to responsible parties.
Plan Benefit Services has partnered with several PBMs to ensure your employees receive their medications at the lowest cost possible.