Pharmacy benefit management has evolved from an obscure industry to an integral part of the American healthcare system.
Pharmacy benefit managers (PBMs) negotiate prescription drug benefits for health insurers, large employers, Medicare Part D plans, and other payers who currently cover more than 266 million Americans. The big three PBMs — Express Scripts (owned by Cigna), CVS Caremark (part of CVS Health), and OptumRX (owned by UnitedHealth Group) — now control 85% of prescription drug benefits in the US. READ MORE