The power plant in El Segundo, Calif. (Photo: Don Solomon, via Shutterstock)
OPINION: As temperatures soared and wildfires burned across the Southland, California electricity customers recently experienced rolling blackouts for the first time since 2001. Although investigations continue, it appears that there just weren’t enough energy resources available to meet customer demand.
A pharmaceutical worker examines drugs at a dispensary. (Photo: i viewfinder, via Shutterstock)
The PBMs originated in the 1960s to help health plans, self-insured employers and government entities, among others, to negotiate prescription drug prices and efficiently distribute medications. Since then, they have evolved into a money-making industry without regulations, experts say. By one estimate, three major PBM companies had a staggering $270 billion in revenues in 2014.