As options for pharmacy benefit managers (PBMs) expand, focusing on fiduciary responsibility can help benefit leaders determine whether their current choice is the best for their workforce — or if it’s time to partner with someone new.
Calls for increased transparency and cost savings in healthcare have led to an increase in alternative models within the PBM space, giving employers more choice, and therefore more control, over this aspect of their benefit plans. In turn, these improvements can trickle down to employees, as long as benefit managers select the right PBM to meet their needs.
