Which of the following participants contracts with retail pharmacies to ensure members' prescriptions are dispensed?

Pharmacy Benefit Managers (PBMs) serve as intermediaries between health insurance providers and retail pharmacies, playing a crucial role in the management of prescription drug benefits. They negotiate with retail pharmacies to secure favorable pricing and terms for prescription dispensing to members of the health plans they manage. PBMs establish contracts that outline reimbursement rates, formulary management, and various pharmacy network requirements, ensuring that members can access their medications efficiently and at a reduced cost.

In contrast, manufacturers develop and produce pharmaceutical products but do not directly engage with retail pharmacies for dispensing prescriptions to members. Wholesalers operate in the supply chain by distributing medications from manufacturers to pharmacies but are not involved in contracting terms with pharmacies regarding member prescriptions. Health insurance providers set the overall framework for drug benefits but rely on PBMs to manage the specifics of the pharmacy contracts. Thus, the role of the PBM is integral to ensuring that members' prescriptions are dispensed effectively through retail pharmacies.