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Definition of Pharmacy benefit manager

Pharmacy benefit manager: A company under contract with managed care organizations, self-insured companies, and government programs to manage pharmacy network management, drug utilization review, outcomes management, and disease management. A pharmacy benefit manager may, for example, fill drug prescriptions by mail order as part of a corporate health insurance plan. Abbreviated PBM.

Source: MedTerms™ Medical Dictionary
http://www.medicinenet.com/script/main/art.asp?articlekey=24243
Last Editorial Review: 9/20/2012

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