A recent high-profile disagreement between Walmart and pharmacy benefits manager (PBM) CVS Caremark exemplifies the friction between pharmacies and PBMs about prescription pricing… and the power that PBMs possess to influence drug costs. MedBen Rx was designed to put that power back in the hands of the consumer.
As The Wall Street Journal reported, Walmart threatened to withdraw from the CVS Caremark network, accusing the PBM of taking excess profits. CVS countered that Walmart’s request for larger reimbursements would result in higher consumer costs. The two parties ultimately settled their differences.
Pharmaceutical Horizons President Allan Zaenger says the conflict is endemic of the balancing act that even a big box retailer must perform to ensure it can offer affordable medications to customers while still minding its bottom line. “It points to the degree to which PBM reimbursement is now causing profit pain at another big-time pharmacy retailer already taking narrow margins for prescription foot traffic,” he said.
MedBen Rx pharmacy programs remove the ability of the PBM to manipulate cost margins. We place a greater focus on what a pharmacy actually pays for a drug, rather than what the PBM claims to be the “right” price. And we make certain that the pharmacy is fairly compensated for its service while reducing drug costs for our clients.
In a climate where the major players are fighting for a bigger share of your pharmacy dollars, MedBen Rx offers sensible solutions that help you keep more of your money.
Get the details by visiting MedBenRx.com or contacting Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com.