![]() ![]() ![]() ![]() In effect, they are the dominant middlemen among drugmakers, drugstores, insurers, employers, and patients. In addition to negotiating discounts with manufacturers, PBMs set payment terms for the pharmacies that buy and dispense the drugs to patients. The industry mushroomed as prescription drug spending grew about 200-fold between 19. Known as PBMs, these companies were created in the 1960s to help employers and insurers select and purchase medications for their health plans. Here's a primer to help you decipher what's happening. House and Senate members from both parties have launched at least nine bills, parts of which may be packaged together this fall, that take aim at pharmacy benefit managers, companies that channel prescription drugs to patients. The short answer is that Congress is paying attention. Perhaps by design, it's not always clear who's sponsoring the ads or why. In recent months ominous ads about prescription drugs have flooded the TV airwaves. ![]()
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