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Medical 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
Last Editorial Review: 6/9/2016

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