(Reuters) – A non-profit coalition of nearly 40 private employers, including retailers Walmart and Costco, said on Monday that it has launched a new company that would offer pharmacy benefit services to employers.
With the COVID-19 pandemic seriously weighing on people's emotional and physical well-being, companies have sought to broaden their offerings to support their employees.
EmsanaRx, the PBM unit in the Coalition Buyers Business Group for Health (PBGH), will provide employers with a fixed price per prescription as well as guidance from a clinical pharmacist account manager.
PBM acts as an intermediary between drug manufacturers, health insurance plans and pharmacies to negotiate prescription drug prices.
San Francisco-based PBGH is the majority owner of Emsana Health, the company that will house the PBM unit. The group also counts Boeing Co. and Microsoft Corp. among its members.
Cigna Corp.'s Evernorth and UnitedHealth Group's unit Optum are among the largest providers of PBM services in the United States. The health conglomerate CVS Health Corp. also has a PBM company.