Which of the following represents a function of a Pharmacy Benefit Manager?

A Pharmacy Benefit Manager (PBM) plays a crucial role in the management of prescription drug benefits for health plans and their members. One of the primary functions of a PBM is negotiating drug prices with pharmaceutical manufacturers and managing formularies, which are lists of covered medications. This process helps to control costs for both the insurer and the consumer by ensuring that the plan provides access to necessary medications while also encouraging the use of cost-effective options.

Negotiating drug prices involves securing discounts and rebates from drug manufacturers to lower the costs of medications for health plans. Managing formularies means deciding which drugs are included in the plan's coverage and under what terms, ensuring that beneficiaries have access to a range of medications while also promoting the use of generics or preferred brands that might be more cost-effective. This function is essential for maintaining the sustainability of health insurance plans and managing overall healthcare expenditures.

In contrast, the other options refer to functions that do not align with the primary role of a PBM. Providing direct patient care services, for instance, is typically the role of healthcare providers rather than a PBM. Similarly, while technical support may be beneficial, it is not a primary function of PBMs. Lastly, regulating health insurance companies is a responsibility typically held by