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          comprehensive  
          
                                   
                 
                                      author：hotspot   
                                        
                                      
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browse：538
                                  
                                    
          
                                    
            
          
 
          Two business miniatures talk to each other on coin stacks that are sandwiched by a syringe and a stethoscope — coverage from STAT
          Adobe
          For all the flak they get, the country’s four biggest pharmacy benefit managers reported a surprisingly tame average profit margin in the first three quarters of 2023: 4.5%, less than a third of their drugmaker peers.
          But don’t take their numbers as gospel, experts warned.
          advertisement
          “It’s really easy to move money around inside the books of a vertically integrated organization,” said Karen Van Nuys, a senior fellow at the USC Schaeffer Center for Health Policy and Economics. “If one segment of your vertically integrated organization is not publishing any financial data, it’s a good place to hide stuff.”
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