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Large employer group launches new pharmacy benefit management business -Breaking

by Mike Robinson

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© Reuters. One person is waiting at Walmart Pharmacy to receive the Moderna coronavirus (COVID-19 vaccine). Walmart and the other large U.S. pharmacies participate in the Federal Retail Pharmacy Program. This program aims to boost vaccinations in America in West Haven.

(Reuters] – Nearly 40 private companies, including U.S. retail giants Walmart (NYSE) and Costco(NASDAQ:), announced on Monday they have launched a new company offering pharmacy benefit management (PBM), services to employers.

Due to the COVID-19 pandemic, which has had a severe impact on both physical and mental health, many companies are trying to expand their support services to their workers.

EmsanaRx (the PBM unit from the coalition Purchaser Business Group on Health – PBGH) will give employers a fixed price prescription and provide guidance by a clinical pharmacist account manger.

In order to help negotiate the price of prescription drugs, PBMs are intermediaries for drug manufacturers and pharmacy plans.

Emsana Health will host the PBM unit. PBGH holds a majority of Emsana Health. Boeing (NYSE:) Co is also part of the group. Microsoft Corp (NASDAQ: ) is one of its members.

PBGH is a San Francisco-based company which has assisted large companies and healthcare consumers in obtaining better quality and lower costs for the past three decades. Greg Baker, the EmsanaRx CEO, said that employers now have their data. They will also be able to access the clinical tools, information, and resources necessary for their specific needs.

Cigna Corp Evernorth (NYSE:), and UnitedHealth Group’s Optum (NYSE:), are two of the most prominent providers of PBM services within the United States. CVS Health Corp, a major health conglomerate (NYSE:), also owns a PBM company.

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