by Team PCM | Jul 19, 2023 | Blog Post, Contract Management
Drug discounts are reductions in the cost of prescription medications as negotiated by pharmaceutical manufacturers and Pharmacy Benefit Managers (PBMs). The PBM acts as an intermediary between the pharmaceutical manufacturers and the self-insured groups, negotiating...
by Team PCM | Jun 19, 2023 | Blog Post, Contract Management
In the ever-evolving healthcare landscape, pharmacy benefits are crucial in ensuring affordable medication access for patients and plans. Pharmacy benefits contracts establish the terms and conditions under which insurance plans cover prescription drugs. The annual...
by Team PCM | May 23, 2023 | Blog Post, Pharmacy Benefits
Drug shortages are at a ten-year high, challenging patients and healthcare providers. These shortages occur when the demand for a particular medication exceeds the available supply, leading to potential delays or unavailability of essential drugs. Plan sponsors have a...
by Team PCM | Apr 14, 2023 | Blog Post, Contract Management
Five Metrics to Evaluate Pharmacy Contract Performance Brokers can evaluate pharmacy contract performance by monitoring several key performance indicators (KPIs) and assessing how well the contract meets clients’ needs. Below are five metrics that brokers should use...
by Team PCM | Mar 21, 2023 | Blog Post, Pharmacy Benefits
The 2023 growth may be small, but drug exclusion lists are still growing for the three largest pharmacy benefit managers (PBMs). Handling over 80% of all prescriptions filled in the United States, the exclusion lists for these PBMs are widening the gap between list...
by Team PCM | Jan 23, 2023 | Blog Post, Pharmacy Benefits
Like the rest of American workers, pharmacy benefit brokers are burning out. Rising healthcare and drug costs, ever-changing policies, and transparency wars are adding to the complexity of benefit plan management. Fortunately, tools are available that automate...
