It’s scary when I hear senior leadership saying things like, “I know just enough about pharmacy benefits to be dangerous.” You may not know this but when you dabble in this space AND make decisions it is actually extremely dangerous. It’s dangerous to your bottom line and to your employees health.
PBMs don’t dabble in pharmacy benefits management. It is all we do! When a plan sponsor or their adviser who just dabbles in the space aligns with a PBM that is non-fiduciary, what do you think is going to happen? In fact, a non-fiduciary PBM who doesn’t take you to the cleaners might be failing in its own fiduciary responsibility to shareholders. Don’t dabble, get educated.
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