Effective January 2023, a national pharmacy chain terminated its network participation agreements with a national pharmacy benefit manager (PBM). We analyzed the impact of this network change on the prescription dispensing patterns of affected beneficiaries before and after termination of the pharmacy’s participation in the PBM’s Medicare Part D network. The pharmacy exit event was disruptive to all parties. In this white paper, we discuss:

• The utilization shift
• Where did Part D beneficiaries from the national PBM obtain prescriptions in 2023?
• Possible performance decrease in plan Star Rating adherence measures
• Exiting pharmacy retention