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The Hidden Scammers of Healthcare: Pharmacy Benefit Managers (PBMs)
Pharmacy Benefit Managers (PBMs), have a lot of power over the prescription drug market in the US. They negotiate drug prices, manage prescription drug benefits, and set formularies for millions of Americans. However, PBMs have been criticized for their lack of transparency and conflicts of interest that can negatively impact patients.
One major concern is that PBMs may prioritize profits over patient needs. For example, PBMs may steer patients towards certain pharmacies or require prior authorization for certain medications, which can limit patient choices and delay access to needed medications. PBMs may also use complex pricing structures that are difficult for patients to understand, and collect sensitive patient information without adequate privacy protections.
In this video, we'll also be exploring the controversial practice of price spreading by Pharmacy Benefit Managers (PBMs). PBMs play a significant role in the healthcare industry by negotiating drug prices on behalf of health insurance plans. However, price spreading occurs when PBMs charge insurance plans more for medications than what they pay pharmacies, pocketing the difference as profit. This practice has led to higher costs for both patients and insurance companies, while PBMs continue to reap significant financial gains. We'll delve into the details of price spreading and its impact on the healthcare system, as well as discuss potential solutions to this ongoing issue.
Overall, the goal of this video is to raise awareness and advocate for patient wellbeing over all other agendas. Let me know what you think
Follow my other pages for more interesting videos
Instagram: Med.hustle
Tiktok: Medhustle
Facebook: gutrxn
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By MedHustle
5
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Pharmacy Benefit Managers (PBMs), have a lot of power over the prescription drug market in the US. They negotiate drug prices, manage prescription drug benefits, and set formularies for millions of Americans. However, PBMs have been criticized for their lack of transparency and conflicts of interest that can negatively impact patients.
One major concern is that PBMs may prioritize profits over patient needs. For example, PBMs may steer patients towards certain pharmacies or require prior authorization for certain medications, which can limit patient choices and delay access to needed medications. PBMs may also use complex pricing structures that are difficult for patients to understand, and collect sensitive patient information without adequate privacy protections.
In this video, we'll also be exploring the controversial practice of price spreading by Pharmacy Benefit Managers (PBMs). PBMs play a significant role in the healthcare industry by negotiating drug prices on behalf of health insurance plans. However, price spreading occurs when PBMs charge insurance plans more for medications than what they pay pharmacies, pocketing the difference as profit. This practice has led to higher costs for both patients and insurance companies, while PBMs continue to reap significant financial gains. We'll delve into the details of price spreading and its impact on the healthcare system, as well as discuss potential solutions to this ongoing issue.
Overall, the goal of this video is to raise awareness and advocate for patient wellbeing over all other agendas. Let me know what you think
Follow my other pages for more interesting videos
Instagram: Med.hustle
Tiktok: Medhustle
Facebook: gutrxn