Preferred National Pharmacy Solutions (PNPS) is neither a PBM nor a PBA. It is the first and only truly transparent, full-disclosure, pass-through “Pharmacy Benefit Expense Manager” that is committed to operating in the spirit of, and in strict compliance with, ERISA ….in every way, always.
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Like the companies whose logos are found on the backs of our debit and credit cards, pharmacy benefit managers (PBMs) are as essential to supporting the way in which we obtain medicines as those companies are to supporting our banking infrastructure. Processing millions of pharmacy claims each day, it is disconcerting to know that the PBM industry’s deceptive pricing schemes, self-dealing practices and inappropriate influencing of prescribing physicians and dispensing pharmacists have gone on for nearly two decades, costing payors and patients billions of dollars in over-payments and compromising the quality of our care. Worse yet, despite the payment of hundreds of millions of dollars in fines, penalties and settlements many of these unsavory practices continue.
Today, much more is known about how pharmacy benefits are administered and managed. As a result of this increase in awareness, informed payors are more conscious of their need to regain control of their Rx plans. To meet this need, numerous pharmacy benefit consultants have emerged to help Plan Sponsors review, evaluate and negotiate with their PBMs. And while some genuine movement toward “transparency” and ”full disclosure” has occurred, the reality is however, that upon close examination, PBMs remain elusive black boxes and continue to operate in a cloak of secrecy and in their own selfish best interest. Indeed, it would appear that there is no way to prevail over the practices engaged in by PBMs, only various degrees of losing. Until now…
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