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In the United States, a pharmacy benefit manager (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.
AMA created the Council on Pharmacy and Chemistry in 1905 to set standards for drug manufacturing and advertising. [37] That same year, the AMA began a voluntary program of drug approval, which would remain in effect until 1955. Drug companies were required to show proof of the effectiveness of their drugs to advertise them in AMA's journal. [38]
Pharmacy benefits managers have been increasingly scrutinized for their role in health care costs.
The Pharmaceutical Care Management Association (PCMA) is an American national trade association representing pharmacy benefit managers.According to the association's mission statement, PCMA advocates on behalf of its member companies, which claim to improve affordability of prescription drugs and quality of care through the use of tools such as electronic prescribing (e-prescribing), [1 ...
In the past, Congress authorized the Secretary of HHS to request USP to develop a drug classification system that Medicare Prescription Drug Benefit plans may use to develop their formularies, [6] and to revise such classification from time to time to reflect changes in therapeutic uses covered by Part D drugs and the addition of new covered ...
President Joe Biden will call on Congress to expand the number of drugs subject to annual Medicare price negotiations in his State of the Union address on Thursday, the White House said. The ...
The Medicare Prescription Drug, Improvement, and Modernization Act, [1] also called the Medicare Modernization Act or MMA, is a federal law of the United States, enacted in 2003. [2] It produced the largest overhaul of Medicare in the public health program's 38-year history.
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