This 👆might be the best definition of PBM transparency I’ve heard .

We are not a transparent PBM. We don't want to be associated with transparent PBMs. Transparent as it's used in this market space means that I will tell you something and usually a good transparent is going to codify that in their contract. They're going to say I'm going to tell you this and we're going to put it in the contract. So there's no definition that really says for you to take the moniker of transparent here's the criteria and here are all of the things you need to disclose to your client. Another transparent might claim the moniker of transparent codify it with this line that says I'm going to tell you this but what it doesn't mean is I'm also going to tell you this and this and this. I say we operate under full disclosure and what that means is you have access to everything that is material. So full disclosure means we're going to tell you everything that's important. Transparent means I'll tell you one or two or three.