Pharmacy Benefit Management Market Detailed In New 2021 Research Report | Express scripts, Prime Therapeutics,

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Pharmaceutical benefit management

Pharmacies are under pressure to contain costs, but it is impossible to control the use of drugs, which accounts for almost 30% of all health expenditure.

SEATTLE , WASHINGTON, UNITED STATES, December 13, 2021 /EINPresswire.com/ – If you have a drug plan, a Pharmacy Benefits Manager (PBM) is a must have part of the plan. They administer your prescription drug benefits on your behalf. PBMs can be part of a commercial health plan, self-insured employer plan, Medicare Part D plan, or even a Federal Employee Health Benefit Program (FEHBP) or d ‘a plan for state government employees.

Pharmacies are under pressure to contain costs, but it is impossible to control the use of drugs, which accounts for almost 30% of all health expenditure. By outsourcing the management of prescription drug benefits, PBMs save time and money. With PBMs, you will have access to a trusted partner, who can help you control costs and generate value. The most important element in a PBM relationship is integrity.

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Global Pharmacy Benefit Management Market: Competitive Landscape

Major players operating in the global pharmacy benefit management market include CVS Caremark, Catamaran Corporation, Express Scripts, Humana Pharmacy Solutions, MedImpact, Prime Therapeutics, and United health/OptumRx.

Recent developments

Major players operating in the global pharmacy benefit management market are focusing on launching new pharmacies and benefit programs to expand their market share. For example, in August 2019, Accredo, a specialty pharmacy, has opened a new full-service pharmacy for residents of Hawaii who require additional clinical and administrative support for their complex medications and treatments.

Global Pharmacy Benefit Management Market: Drivers

Rising drug costs are expected to propel the growth of the global pharmacy benefit management market during the forecast period. For example, according to Milliman, an actuarial and consulting firm, prescription drug costs fell from 13.2% in 2001 to almost 15.9% of overall health spending for a family of four in 2015. .

In addition, the expiration of successful brands is also expected to contribute to the growth of the market. Patents for around 40 successful brands 155 billion US dollars Expected to expire by 2020. Generics have a good profit margin, which may benefit pharmacy benefit managers / management companies.

Market trends

North America is expected to experience significant growth in the global pharmacy benefit management market, due to the launch of new products and services in the region. For example, in July 2019, Etna, a CVS Health company, began offering fully insured health care network options to its Preferred product organization (OPP), Organization of exclusive products (EPO), and Health maintenance organization (HMO) product portfolios across Etna Whole HealthSM – Southern california.

Major players operating in the global pharmacy benefit management market are focusing on launching new pharmacies and benefit programs to expand their market share. For example, in april 2019, Express Scripts, a pharmacy benefits manager, and Learned Health, a provider of a prescription drug monitoring platform, has developed a prescription drug monitoring program (PDMP) for the Military health system (MHS).

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Global Pharmacy Benefit Management Market: Segmentation

By service

Specialty pharmacy services
Medication form management
Design and consultation of employee benefit plans
Mail order service
Other services

By business model

Government health programs
Employer sponsored programs
Health insurance management

By end user

Pharmaceutical benefit management organization
Mail order pharmacies
Retail pharmacies
Inpatient pharmacies
Acute care settings
Long-term care facilities
Outpatient pharmacies
Outpatient clinics
Retail Parameters of Hospitals

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