The demand for more accountability and transparency in the pharmacy benefits industry is gaining traction with calls for stronger legislation, more favorable terms for employers, and enhanced visibility into PBM business practices. While these are positive trends, government-led changes can take time to implement. Thankfully, there are alternative paths for creating plan and member transparency that are actionable today.  

What does transparency mean?

Transparency is one of those buzzwords, but what does it have to do with managing prescription benefits? In a nutshell, a transparent pharmacy benefit gives plan sponsors line of sight into their costs and utilization: easy access to their data; clear understanding of why they are paying what they are paying; what rebates they are receiving; and the information necessary to understand what can be done to improve their plan performance.