Pharmacy Benefit Managers: Driving Cost Savings and Innovation in Healthcare

Real value in working with Canada Drugs Direct as a partner pharmacy that is able to serve as a PBM

VICTORIA, BRITISH COLUMBIA / ACCESSWIRE / December 10, 2024 / A pharmacy benefit manager works as a 3rd-party intermediary that helps to find a common ground between drug manufacturers, pharmacies, and healthcare insurance providers. One where prices for prescription medication are agreeable to each based on their prerogatives, and in a challenging environment for controlling costs given the way the pharmaceutical industry in the USA is so wholly geared for profit. Having a pharmacy in Canada serving as a PBM can have advantages, and that applies to Canada Drugs Direct.

In an era of seemingly runaway Rx drug prices it makes sense that many health plan administrators are increasingly anxious. They are wondering how much longer they’ll be able to control costs without having to go to the companies or organizations with rate increases. Pharmacy benefit managers aren’t new in all of this but they are being used by healthcare insurance providers with increasing frequency now.

High Rx drug prices aren’t the only reason for that, but they are definitely the primary one. What’s important to understand here is that a PBM for a US healthcare provider doesn’t need to be operating in the USA. The one that best fits an organization may be outside of the country. But logistics and other considerations is going to mean the only alternative will be a pharmacy benefit manager in Canada.

Prices for Rx drugs are capped in Canada unlike in America, among other factors that go into prescription drugs costing less in Canada. US corporate healthcare plan providers can obtain even lower prices on Rx meds when they have a central fill pharmacy in Canada that is serving as their pharmacy business manager. A PBM will also compile formularies for the plan providers to determine which medications those plans will cover for members.

The ability to source medications and provide better wholesale prices on them may mean formularies put together by Canadian PBMs are different. They may include Rx drugs that plan administrators don’t have with formularies provided by other PBMs. Broadening their horizons beyond the USA may be advisable for plan admins tasked with finding cost savings. Online pharmacies in Canada with the capacity to serve as a pharmacy business manager may be able to step in and help with that.

About the Company

Canada Drugs Direct is a Canadian online pharmacy that is among those recommended for Americans who shop at a pharmacy in Canada to save money on medications. Canada Drugs Direct is able to source medications in a way that allows for the best prices on prescription drugs from Canada. All orders require a prescription and are dispensed by a licensed pharmacist, in the same way as any pharmacy in America. Pay less for Rx medication ordered online from Canada.

Contact Canada Drugs Direct: https://www.canadadrugsdirect.com

info@canadadrugsdirect.com

Toll Free: 1-888-904-8467

Contact Information

SOURCE: Canada Drugs Direct

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