Health Affairs August 5, 2024
Consolidation has been a defining trend of the US health care system in recent decades. Mergers throughout the industry have restructured how care is delivered and financed, drawing concern from physicians and policy makers. Most recently, Congress has turned the spotlight onto pharmacy benefit managers (PBMs), which manage prescription drug benefits on behalf of health insurers and negotiate with drug manufacturers and pharmacies. As regulators consider how mergers involving PBMs affect competition, they should also consider the clinical and financial benefits for patients of merging pharmacy and medical benefits through integration between PBMs and health insurers.
PBMs And Mergers
Horizontal consolidation (that is, two PBMs merging to form one larger PBM) has been a consistent theme in the PBM industry...
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