Many employers have voiced criticisms of pharmacy benefit managers, or PBMs, questioning why prescription costs are getting higher with no relief in sight — and it looks like insurance carriers have the same question.
Blue Shield of California dropped CVS as their PBM in August in the hopes of cutting down prescription costs by $500 million a year. Through Blue Shield’s new initiative, “Pharmacy Care Reimagined,” the carrier will work with multiple organizations — including Amazon Pharmacy, Abarca, Mark Cuban Cost Plus Drug Company, Prime Therapeutics and CVS Caremark — to cover the administration, navigation and delivery of prescription drugs.
