Pharmacy manager job mainly focuses on pharmacy (Medical store) and patient management. But PBMs play a role between Patient, Pharmacy, Insurer and Drug manufacturing companies. As of now, PBMs Job opportunities are not available in India, but we should see the possibilities to introduce PBM jobs in our country.
Job Role of PBM- Pharmacy Benefit Managers
PBMs were created in well-developed countries to support insurers in managing medication costs. PBMs used to select which pharmaceuticals were included in formularies and how drug claims were handled. PBMs create and manage lists of covered pharmaceuticals on behalf of health insurers, influencing which prescriptions people take and determining out-of-pocket expenditures. PBMs develop networks of preferred pharmacies on behalf of health plans and employers to assist patients. PBMs typically accept spread pricing for generic medications. PBMs also profit from the direct and indirect remuneration fees (DIR) that pharmacies pay.
Why No PBMs Jobs in India?
First, we should understand the business model of US PBMs and how this model will fit into Indian Setup? Also, how this will be helpful to our Indian patients?
- Why PBMs Job profiles are not created by the Indian insurance companies?
- How the drug pricing methods in India limits the PBMs role?
- Do Indian pharmacist have required legal rights and working environment to serve as PBMs?
- How PBMs can help to reduce drug cost of patient or payers as per Indian Setup?