When financial chiefs enlist the services of a pharmacy benefit manager (PBM), they operate under the assumption that PBM is doing everything in its power to help their company. In many cases, however, the PBM is benefiting at the company’s expense.
That was a warning issued by Gregory I. Madsen, the co-CEO of Innovative Rx Strategies, LLC, at the 2017 Mid-Sized Retirement & Healthcare Plan Management Conference in Phoenix, AZ.
One of main ways PBMs are taking advantage of employers is through “clawbacks” on cheap generics.
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