Pharmacy Benefit Managers (PBMs) Explained
Original Content By Pacific Research Institute
May 2, 2017
Video Uses Buying a Cup of Coffee to Break Down Complex Pharmacy Pricing, Shows Americans are Paying More for Less Through Middlemen Like Pharmacy Benefit Managers. A new animated video released today by the Pacific Research Institute uses a more understandable market – buying a cup of coffee – to explain the complex world of pharmacy pricing.
The video illustrates the reality that millions of Americans experience every day when paying for their prescription drugs through pharmacy benefit managers, or PBMs. PBMs are middlemen hired by insurers to pay for prescription drugs. As the video concludes, patients usually end up paying more for less through PBMs, who may also restrict access to life-saving medications.