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This concentration exists almost exclusively for compounding efficiency and requires extremely careful measurement

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The trade association representing PBMs points to this data as evidence that reimbursement rates for independents have held up [3] — a claim worth taking with the appropriate grain of salt given the source, but the underlying store-count data is independently verifiable and tells a real story: independents are not simply being priced out of existence, even as their share of PBM-driven volume shrinks