There are different pharmacy benefit manager companies, however, we are going to look out for some of the best.
The industry keeps growing with the top ones still dominating because of the trust and financial strength they have built over the years.
Pharmacy Benefit Managers can also profit from retaining a portion of drug rebates provided by manufacturers instead of passing the full amount of savings to clients.
PBMs play an important role in contracting with employers, insurers, and pharmacies to manage drug pricing and prescription drug coverage for pharmacy patients in a more convenient way.
Introduction to pharmacy benefit manager companies
There are about 50 pharmacy benefit manager companies currently with Caremark (CVS) still making the lead.
In 2016, Pharmacy Benefit Managers took care of the benefits of pharmacy for about 266 million Americans with their numbers fewer than 30 companies, which as of 2017, the largest PBMs had higher revenue than the largest pharmaceutical manufacturers, indicating their increasingly large role in healthcare in the United States thus the motivation behind the increasing number of the pharmacy benefit managers companies.
20 best pharmacy benefit manager companies
Below is the list of pharmacy benefit manager companies we show as the best considering reviews relating to customer satisfaction and the range of coverage.
- CVS Caremark
- Express Scripts
- American Health Care
- Healthesystems LLC
- Kroger Prescription Plans
- MedImpact Healthcare Systems, Inc.
- PBM Plus, Inc.
- Progressive Medical Inc.
CVS Caremark is a leading pharmaceutical services company providing comprehensive drug benefit services to over 2,000 health plan sponsors and their plan participants throughout the U.S. and has been in existence for about 3 decades.
They work with employers, health plans, unions, and state and local governments nationwide managing prescription plans that help control costs while ensuring access.
It was founded in 1986 and provides innovative solutions for managing pharmacy-benefit costs and enhancing the quality of care.
Express Scripts Holding Company is a pharmacy benefit management organization. In 2017 it was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management organization in the United States.
OptumRx was founded in1990 was among the best pharmacy benefit management companies in the US.
It has received recognition and accreditation from trade associations, regulatory agencies, and other governing bodies.
They manage your pharmacy and overall health care spend, help clients and over 66 million members achieve better health outcomes also lower overall costs through innovative management.
American Health Care
For over 30 years, American Health Care has been providing unique, member-health-focused pharmacy benefit management (“PBM”) services to self-insured employers, health plans, hospitals, school districts, labor unions, and health and welfare funds.
The unique approach drives significant savings in both medical and pharmacy costs by incorporating powerful and proven health management programs for chronic and specialty conditions within their core pharmacy benefit offering.
Their hospital-centric solutions, offer the industry’s leading 340B drug administration program together with customized pharmacy benefit programs tailored specifically for the unique needs of hospitals and health systems.
This is also among the amazing pharmacy benefit manager companies driven by innovation, data analytics, and clinical excellence.
It was founded in 2002 having a groundbreaking ABM solution that stands alone in the industry and the PBM solution is comprised of industry-unique tools and services providing unmatched value and results.
Kroger Prescription plans
Kroger Prescription Plans is dedicated to providing pharmacy benefit management services and innovative clinical programs that focus on engagement, choice, and cost savings.
Built on personalized care solutions that simplify health, wellness, and nutrition, the industry-leading programs are delivered by highly credentialed pharmacists, technicians, and health care providers.
They bring together the full range of Kroger entities to optimize your experience, improve health and deliver savings.
MedImpact Healthcare Systems, Inc.
For 30 years, MedImpact has been lowering costs, improving care, and delivering better solutions for our clients.
Today, they are among the largest independent pharmacy benefit solutions companies and are investing millions of dollars in clinical programs, technology, operations, and analytics for better operation.
PBM Plus, Inc.
PBM Plus was founded in 1993 and is among the best pharmacy benefit manager companies that differentiate itself from other PBMs by being completely independent of pharmaceutical manufacturers, insurance companies, and pharmacies.
As part of the Omnicare Specialty Care Group, they focus on creating cost-effective solutions for their clients by having the freedom to develop and implement solutions that are dedicated to meeting the needs of our clients and their individual members.
For about 3 decades, WellDyne has leveraged clinical expertise to drive improved health outcomes for our clients and members.
They are on a quest to fill the gap that exists today for Pharmacy Benefit Managers options serving the middle market and has grown to partner with more than 2,000 clients and serve more than 3 million members.
Progressive Medical Inc.
Progressive Medical, Inc. was founded in 1986 with a mission to identify and provide specialty medical products that demonstrate proven advantages in overall cost-effectiveness, efficiency, and safety.
Their strong and steady growth has led to the establishment of strategically located nationwide distribution capabilities, and an expanding global supplier presence.
To provide customers with the best value in health, dental, vision, and life insurance benefits, and administrative services.
We are customer-focused and market-driven, using the strengths and opportunities created by Regence health plans.
We are committed to keeping health care costs as low as possible for our customers by continually negotiating fair rates for health care services.
The pharmacy benefit manager companies in this article are in no order of ranking, therefore, we recommend you follow the individual links provided in each of the PBM companies for a wider view of their operations.
Pharmacy benefit manager companies come with many pros however, their cons are not to be overruled.