Hy-Vee’s New PBM Will Likely Need a Niche to Compete

Midwestern supermarket chain Hy-Vee, Inc. launched a new PBM subsidiary on Dec. 3, joining the already-crowded ranks of retail stores that have done the same, such as Costco Wholesale Corp., The Kroger Co. and Walgreens Boots Alliance Inc. Industry consultants tell AIS Health that while Hy-Vee’s new PBM may struggle to compete with large and well-established players, there are ways it can still appeal to employers that are dissatisfied with the status quo in pharmacy benefits management.

“Starting a PBM today is risky, because the pharmacy benefits market is dominated by a few very large, sophisticated and insurance-integrated PBMs,” says Elan Rubinstein, Pharm.D., principal at EB Rubinstein Associates.

© 2021 MMIT

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

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