Pharmacy Benefit Manager FAQs
Appro-Rx helps improve the way pharmacy benefits management is done every day to help lower prescription costs. However, we understand that the world of PBMs can be confusing. Below we have answered your most frequently asked questions to give you a better understanding of your needs!
What is a Pharmacy Benefit Manager (PBM)?
Pharmacy Benefit Managers (PBMs) are third party administrators for prescription drug programs that negotiate drug prices with manufacturers and handle the exchange of money between pharmacies and health plan enrollees (employees of private companies and government agencies as well as welfare programs).
How many people use a Pharmacy Benefit Manager?
90% of all Americans get their pharmacy benefit through a PBM.
How many pharmacies are there in the USA?
Over 64,000 pharmacies available in the United States
What questions should I ask my PBM?
• Do you know if your PBM is giving you a fair deal and pricing?
• Is your PBM withholding Extra Savings provided by the drug companies?
• Is your PBM overcharging you and making excess profits and calling them "administration fees"?
• Is your PBM performing according to contract or overcharging you?
• Is your PBM claiming to be "transparent" but you sense there are hidden fees and profits at your expense?