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REQUEST FOR PROPOSALS FOR Medicare Prescription Drug Program Support Serviceman Pharmacy Benefit Management ServicesISSUING OFFICE Commonwealth of Pennsylvania Public School Employees Retirement System
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A pharmacy benefit management (PBM) is a third-party administrator of prescription drug programs for commercial health plans, self-insured employer plans, Medicare Part D plans, the Federal Employees Health Benefits Program, and state government employee plans.
PBMs are required to file pharmacy benefit management reports to relevant regulatory authorities or health oversight agencies.
PBMs must fill out pharmacy benefit management reports by compiling and submitting data on prescription drug claims, utilization, pricing, rebates, and formularies.
The purpose of a pharmacy benefit management is to manage prescription drug programs efficiently, control costs, and improve quality and access to medications for plan members.
Information on prescription drug claims, utilization patterns, medication pricing, rebates received, and formulary details must be reported on pharmacy benefit management reports.
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