What is the primary focus of a Pharmacy Benefit Management (PBM)?

The primary focus of Pharmacy Benefit Management (PBM) is managing prescription drug benefits. PBMs serve as intermediaries between insurers, pharmacies, and pharmaceutical manufacturers, primarily aiming to enhance the affordability and accessibility of medications. They negotiate prices and rebates with drug manufacturers, establish pharmacy networks, and develop formulary lists that determine which medications are covered under various insurance plans. This role is crucial for controlling costs and ensuring that patients receive the necessary medications in a cost-effective manner.

The other choices are related to healthcare but do not accurately represent the primary role of a PBM. Providing medical advice is typically the role of healthcare professionals like doctors or pharmacists. Retail pharmacy operations focus on the day-to-day functioning of a pharmacy, including dispensing medications and offering customer service, while medical record keeping involves maintaining patient health records and is more relevant to healthcare providers rather than a PBM's functions.