Tyrone Squires (TransparentRx)

A key strategy to controlling prescription drug benefit costs is to understand and better manage the relationship with pharmacy benefit managers. Yet most HR executives, brokers, consultants and even chief financial officers alike admit "off the record" they don't know enough about the PBM industry to make any sustainable cost reductions. Consequently, you rely on outside experts. In order to improve on the job execution and career growth, benefits consultants, finance managers, procurement and HR professionals must expand their PBM knowledge beyond a functional role and understand exactly how each domain works together within the pharmacy distribution and reimbursement system.