The COVID-19 pandemic has had a deep and profound impact on American businesses both large and small. As the country inches back to a “new normal,” business leaders have to deal with the cost of healthcare as a significant issue to their bottom line. Managing pharmaceutical costs will continue to be a major priority for employers.
During the last few years, employers, patients, pharmacies, pharmaceutical companies and the government have become “fed up” with the PBM cartel that exists in the marketplace. The “old guard” PBMs have been reinventing themselves through mergers and acquisitions. Promises of lowering drug costs have not materialized. New PBM entrants have emerged to bring new technology, a simpler business model, and more transparency. I propose to lay out a road map of where we are today and a guide to the market dynamics in the making.