Pharmacy Benefit Management

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  • Pharmacy Benefit Management Case Study

    Pharmacy benefit managers are third-party pharmaceutical benefit administrators. They’re primary functions are processing and paying for prescribed pharmaceutical drugs. They also secure contracts with pharmacies, create lists of preferred pharmaceuticals called formularies, and make deals with manufacturers. Utilization management programs are implemented by pharmaceutical benefit managers to assure that client treatment is necessary. Utilization management helps observe the medical need for and efficiency of provided care. For example, specialty drugs are very costly and can incur large amounts of money, but with utilization management programs in place, cost can be managed appropriately. Pharmacy benefit management is largely used amongst employers to pay for prescription drug claims. Majority of employers offer their active employees prescription drug coverage. Half of employers offer their retired employees prescription drug coverage. The results of a survey released in June 2011 showed the top reasons employers offered pharmacy benefits to their employees (shrm.org, 2011). Providing pharmacy drug coverage positively affects medical claims. It creates competition amongst other businesses. It also is a way of getting the attention of and retaining essential employees. Lastly it’s simply the right thing to do for employees. The cost to…

    Words: 1361 - Pages: 6
  • Case Study: Merck Pharmaceuticals

    Pharmacy Benefit Managers (PBM) had a large market reach as they assisted in a various number of ways in the pharmacy market. Two channels of distribution existed: wholesaler to retailer and mail service pharmacy. Other competitors also engaged in acquisitions of PBMs but did not meet the success of the Merck-Medco acquisition. The Merck-Medco integration can be deemed as a textbook example for its competitors as Merck Pharmaceuticals successfully introduced a channel intermediary that changed…

    Words: 713 - Pages: 3
  • Walgreens Pharmacy Industry: A Case Study

    On October 27, 2015, Walgreens Pharmacy, announced it deal with Rite aid to combine in hopes to boost the industry. This massive deal would combine the second and third largest pharmacy companies to create possible the largest chain. The offer proposed by Walgreens to Rite aid was that it would pay 9$ per share. Wall Street Journal reported Rite aid shares skyrocketed 43% as the deal approached reaching a high $8.67 nonetheless, Walgreens offer was still greater. (Bomey) The total agreed offer…

    Words: 783 - Pages: 4
  • Community Pharmacist Research Paper

    The career of pharmacy has interested me ever since I was a little girl and this has been one of my passions ever since. Some of the different pharmacy careers that really stood out and interested me are community pharmacy, pharmacy opportunities in rural communities, ambulatory care clinics, and medication therapy management programs. A community pharmacy is a healthcare facility that focuses on providing services to a single specific community within an area. A community pharmacist is…

    Words: 1155 - Pages: 5
  • Reflection: My First Introductory Pharmacy Practice Experience

    My first Introductory Pharmacy Practice Experience (IPPE) was at Walmart Pharmacy, in Quincy, Florida, under the directorship of Dr. Sharonda McNeil, Pharmacy Manager and Dr. Amr Asker, Staff Pharmacist. I did my rotation at this location for a total of three Thursdays I’ve been working in retail for almost three years so I am pretty familiar with how things flow. I just mainly needed to learn the process of filling that Walmart Pharmacy follows. Walmart Pharmacy is an organization who 's…

    Words: 849 - Pages: 4
  • Community Pharmacist Reflection

    noon. This was my first time behind the pharmacy viewing a practicing community pharmacist. Many of her tasks for the day included immunizations, reviewing medications orders, counseling patients, and when orders became backed up she aided the pharmacy technician when available. There was an audit that day for immunization from the corporate level to make sure that all procedures and vaccines were being stored correctly. The corporate employee who was also a licensed pharmacist and allowed me…

    Words: 958 - Pages: 4
  • Pharmacy Career Path

    The path to my pharmacy career all began bagging groceries at Hy-Vee. I began working as a bagger in my sophomore year of high school thinking it would result in little more than some spending money. Soon thereafter my college decision began to loom and additionally came the task of determining what career path I wanted to take. Throughout my entire education, I have always had a passion for my science courses and have always pictured myself working in a medical setting. With this in mind, I was…

    Words: 805 - Pages: 4
  • Pharmaceutical Care Research Paper

    Within this communication, the patient plays a key role in the overall management of the therapy plan. • Quality Assessment/Improvement Programs The implementation and practice of pharmaceutical care is supported and improved by measuring, assessing, and improving pharmaceutical care activities utilizing the conceptual framework of continuous quality improvement. This document will not cover each and every situation; that was not the intent of the Advisory Committee. This is a dynamic…

    Words: 1499 - Pages: 6
  • Why I Chose Pharmacy Study

    I have selected pharmacy as my career because I have a sincere interest in the field of study, a desire to help people, and a drive to overcome challenges. I have always been very interested in science, especially in chemistry and biology. As I took courses to fulfill degree requirements I found that organic chemistry, microbiology, cell structure, and many other courses fascinated me as well as challenged me. I began to look into careers in which I could continue studying these subjects and use…

    Words: 1443 - Pages: 6
  • Cvs/Pharmacy Case Study

    Organizational Context With over 9,500 stores in 48 states, CVS/Pharmacy is one of the subsidiaries of CVS Health a pharmaceutical company headquartered in Woonsocket Rhode Island (CVS Health.com, 2016). CVS Health was founded in 1963 and today is comprised of CVS/pharmacy, CVS/Caremark, CVS/MinuteClinic, and CVS/specialty each fulfilling a diverse role in supporting patient health. The CVS/Pharmacy distributes healthcare products, child care products, medical supplies and equipment, cosmetics…

    Words: 761 - Pages: 4
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