AMA Report: Top Four PBMs Now Control 75% of Market
The American Medical Association's September 2026 Policy Research Perspective, drawing on Decision Resources Group data from 2022 to 2024, found the four largest pharmacy benefit managers now control 75% of the national market, up from 70% in 2022. The report documents continued consolidation among PBMs and insurers tracked over the study period. Becker's Hospital Review summarizes six key findings from the analysis. The data underscores ongoing concentration trends affecting drug pricing and negotiation leverage across the pharmaceutical supply chain.
Medicaid managed care plans and state agencies negotiating pharmacy benefits face shrinking competitive options as PBM consolidation intensifies pricing leverage and reduces transparency in drug cost management.
Pharmacy · Managed Care
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