Podcast
Questions and Answers
What is the primary responsibility of a pharmacy benefit manager (PBM) according to the American Pharmacists Association?
What is the primary responsibility of a pharmacy benefit manager (PBM) according to the American Pharmacists Association?
Where do PBMs operate as per the text?
Where do PBMs operate as per the text?
How many Americans did PBMs manage pharmacy benefits for as of 2016?
How many Americans did PBMs manage pharmacy benefits for as of 2016?
Who do PBMs negotiate discounts and rebates with according to the text?
Who do PBMs negotiate discounts and rebates with according to the text?
Signup and view all the answers
In 2017, what did the revenue of the largest PBMs indicate about their role in healthcare?
In 2017, what did the revenue of the largest PBMs indicate about their role in healthcare?
Signup and view all the answers
What does management refer to?
What does management refer to?
Signup and view all the answers
What does the term 'management' also refer to?
What does the term 'management' also refer to?
Signup and view all the answers
What are the activities included in management?
What are the activities included in management?
Signup and view all the answers
What concepts are used in management to differentiate between continued delivery and adapting to changing needs?
What concepts are used in management to differentiate between continued delivery and adapting to changing needs?
Signup and view all the answers
What is the science of managing the resources of businesses, governments, and other organizations called?
What is the science of managing the resources of businesses, governments, and other organizations called?
Signup and view all the answers
Study Notes
Pharmacy Benefit Managers (PBMs)
- Primary responsibility includes managing prescription drug benefits and optimizing medication therapies for health plan members.
- Operate across various healthcare settings, including health insurance companies, employers, and government programs.
PBM Statistics
- Managed pharmacy benefits for approximately 200 million Americans as of 2016.
- In 2017, revenue of the largest PBMs indicated a significant and growing role in the healthcare system, showcasing their influence over drug pricing and access.
Negotiations and Relationships
- PBMs negotiate discounts and rebates with pharmaceutical manufacturers and pharmacies to reduce overall drug costs for payers and patients.
Management Definition
- Management refers to the act of coordinating resources and activities to achieve organizational goals efficiently and effectively.
Management Aspects
- The term 'management' also encompasses planning, organizing, directing, and controlling resources to meet set objectives.
- Activities included in management are decision-making, resource allocation, goal setting, and performance monitoring.
Concepts in Management
- Concepts such as strategy and adaptation are used to differentiate between maintaining consistent operations and adjusting to evolving demands and environments.
Science of Management
- The science associated with managing resources in businesses, governments, and organizations is known as management science or organizational management.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge about Pharmacy Benefit Managers (PBMs) in the United States with this informative quiz. Learn about their role in prescription drug programs, their responsibilities, and their impact on healthcare plans.
