Pharmacy Benefit Management Company
Pharmacy Benefits Manager. An entity that monitors prescription claims for an HMO and tracks the drugs and volume prescribed by the plan's participating physicians.
pharmacy benefit manager. An entity that processes pharmacy claims, manages drug formularies, and negotiates manufacturer rebates and pharmacy discounts on behalf of its clients.
A category of healthcare services that involves the managing the delivery of pharmacy and drug-related benefits for members of a managed care or payer plans.
a company that manages the delivery of pharmacy services to a plans members.
Pharmaceutical Benefits Manager. An entity that is responsible for managing prescription benefits.
Pharmacy Benefit Manager. PBMs are third party administrators of prescription drug benefits.
See Pharmacy benefit manager.
Pharmacy benefit manager. A specialty health care organization that serves thousands of client groups, including managed care companies, insurance carriers, third-party administrators, employers and union-sponsored benefit plans. These organizations specialize in pharmaceuticals and strive to contain the costs of prescription drugs while promoting more efficient, safer drug use.
Pharmacy Benefit Manager. An organization that provides administrative services in processing and analyzing prescription claims for pharmacy benefit and coverage programs. PBM services can include contracting with a network of pharmacies; establishing payment levels for provider pharmacies; negotiating rebate arrangements; developing and managing formularies, preferred drug lists, and prior authorization programs; maintaining patient compliance programs; performing drug utilization review; and operating disease management programs. Many PBMs also operate mail order pharmacies or have arrangements to include prescription availability through mail order pharmacies. PBMs are expected to play a key role in managing pharmacy benefit plans in the Medicare drug program.
PHARMACY BENEFIT MANAGER. A entity that supplies a network of member pharmacies to a health plan and manages the prescription claims to control cost.
Pharmacy Benefit Manager. A pharmacy benefit manager (PBM) is a third party administrator of a prescription drug program that is primarily responsible for processing and paying prescription drug claims. Technically, PBMs are private firms that contract with employers, insurers and public and private plan sponsors, but HMOs, managed care organizations, state governments, etc. also can function as PBMs.
PBM's are companies that administer and manage the prescription benefit for health plan sponsors. PharmaCare is a PBM.
Pharmacy Benefit Managers. Organizations that contract with insurers, employers or government agencies to administer pharmacy benefits to members. Pharmacy benefit managers are responsible for providing services while controlling expenditures.
Pharmacy Benefit Manager. This is the company that makes decisions about what drugs will be provided by a program such as Medicare Part D. The PBM may require that a less expensive medicine be tried by the patient or limit the quantity of pills available per month.
Abbreviation for Process Based Management, describing an implementation of ISO 9000-based Quality Control specification. This implementation uses a graphical method of describing manufacturing and business processes for which quality metrics are to be obtained for the purposes of managing and controlling those processes.
pharmacy benefits management
An organization that contracts with health insurance plans to manage prescription medication benefits.
A Pharmacy Benefit Manager is a company specializing in the administration of commercial pharmacy benefits.