People who know Pharmacy Benefit ManagementThe described option is not for all payers. Companies that have the capacity and internal operations to engage in this “new generation” pharmacy model have been identified as the Managed Care Organizations, Insurance Companies and perhaps some Third Party Administrators.
The outline of vendors listed on the next page templates the model that has been used for years with the one-stop shopping approach when going to a single source for all services provided. The single source PBM offering full service capabilities may actually own only a few of the components themselves and subcontract the rest.
Unbundling the varied services provides a greater knowledge of the actual ingredient costs of prescriptions, a greater control of product selection, revenue gain from the formulary rebate proceeds and reduced administrative costs.
