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2024: A Pivotal Year in Curbing Pharmacy Costs

2024 stands at a critical juncture in the battle against soaring pharmacy costs. In 2023, prescription drug costs rose by 8.4%, a 31% increase from the prior year. Stopping this cost escalation requires restructuring the role of pharmacy benefit managers (PBMs) from multiple fronts. On one front, Congress must pass the proposed legislative reforms that can actually curtail opaque PBM practices. Concurrently, employers must demand transparency and accountability from their PBMs. If these dual forces converge, they have the power to bring about a transformative shift that can lower drug spend for millions of American patients.


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