The evolving pharmacy benefit market

The growing number of pharmacy benefit management companies (PBMCs) signal the most significant trend in the pharmacy benefit marketplace in many years. The evolution of this industry has made pharmacy benefit management available to smaller health plans and self-insured employers alike. However, the growth of PBMCs has spurred more competition, and profits in the industry are becoming harder to attain. This setting should provide fertile ground for the continuing evolution of entities that offer pharmacy benefit management.