PBM
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Definition
A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. They also are responsible for developing and maintaining the formulary, contracting with pharmacies, and negotiating discounts and rebates with drug manufacturers.
Examples of PBMs:
- Caremark
- Medco
- Argus
- Aetna
- Pharmacare
- ESI
- Wellpoint