Large pharmacy benefit managers have come under scrutiny for their opaque business practices so much so that the term PBM has become mainstream. PBMs are routinely blamed for driving up costs of prescription drugs and have been regularly mentioned in the mentioned in the corridors of Congress as an industry needing reform. The top 3 PBMs in the U.S. manage 80% of the nation’s prescriptions.

But there are alternatives to the vertically integrated PBM behemoths. One such is Abarca Health , which is adopting a flexible approach to pharmacy benefit management. In this approach, multiple partners can engage with payers based on each entity’s strengths, and that fundamentally reshapes how PBMs operate. This model also addresses the issue of lack of transparency that has dogged legacy PBMs.

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