Exposing the illusion of PBM alignment.
Transparent. Passthrough. Aligned. Every PBM claims these words now, but changing the language doesn't change the economics. This guide pulls apart the alignment messaging to show where the conflicts still live underneath.
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Traditional PBMs are moving profit into specialty channels and fees. Innovators pass through rebates while protecting margins through other carve-outs. See how each preserves the same conflict, and what structural alignment actually requires.
In this download, we’ll cover:
Why the entire PBM industry is rebranding at once.
How traditional PBMs shifted profit to specialty.
Four ways guarantees quietly protect margins.
