Healthcare Finance News September 15, 2025
Jeff Lagasse

Reliance on the “big three” PBMs – CVS Caremark, Express Scripts and Optum Rx – has been slipping over the past year.

Employers are becoming more interested in switching to a pharmacy benefit manager they perceive as being more transparent than the “big three,” according to new data published by the National Alliance of Healthcare Purchaser Coalitions.

Use of alternative PBMs increased from 2024 to 2025 (31% versus 12%, respectively), while reliance on the big three – CVS Caremark, Express Scripts and Optum Rx – fell over the same period (61% versus 72%).

The 324 public and private employees who responded to the poll perceive a number of benefits to having more transparent PBMs, including lower-than-annual average premiums. In fact,...

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Topics: Employer, Pharma, Pharma / Biotech, Survey / Study, Trends
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