Many payers, government bodies, and lawmakers have expressed concerns over lack of transparency from pharmacy benefit managers (PBMs), impacting drug pricing for payers and members. The industry has been slow to address this issue, but with new PBM models and unbundled services gaining popularity, change may be on the horizon. Dan Reedy from Abarca discusses the importance of transparency and its impact on pricing. Organizations paying fair prices have explored their options, while transparency could lead to fairer pricing for all. Payers can accelerate adoption of transparent models through competitive procurement processes, breaking apart the PBM model, and utilizing technology like Real-Time Benefit Check. Blue Shield of California’s unbundling of pharmacy benefit services exemplifies the importance of transparency in pricing. Abarca operates transparently to build strong relationships with their customers and prioritize mutual value.
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Unlocking Transparency in PBM Pricing
