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PBM stands for pharmacy benefit manager. A PBM is a company that manages the prescription drug (pharmacy) component of an employer's or other sponsor's healthcare benefits.What does PBM stand for in government category?
In the United States, a pharmacy benefit manager (PBM) is a third-party administrator of prescription drug programs for commercial health plans, self-insured employer plans, Medicare Part D plans, the Federal Employees Health Benefits Program, and state government employee plans.What does PBM stand for in industry?
Pharmacy Benefits Managers, or PBMs, are companies that deliver prescription benefits. PBMs are hired by corporate employers, healthplans, labor unions, and other organizations to interface with drug manufacturers and process prescription-related claims.How does a PBM work?
Pharmacy benefit managers (PBMs) act as a drug broker between the pharmacies that fill the prescriptions and the payers who typically fund much of the drug benefit. PBMs work by charging their clients a discounted price over the retail price of a prescription.