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Congress to PBMs: Reality Bites

If you think bipartisanship is hard, it’s even harder when it comes to healthcare. But there’s one thing nearly everyone agrees on – Pharmacy Benefit Managers (PBMs) need reform. Yet many of the usual suspects continue to oppose common-sense PBM reforms. Let’s look at the record.

Sins of omission are seldom fun. What PBM lobbyists forget to mention is that PBMs take billions of dollars of pharmaceutical rebates – and keep them. In the process of padding their bottom lines, they keep what patients pay at the pharmacy (the infamous “co-pay”) high. In fact, PBMs are so profitable that three huge companies control 91% of the market—and all three are among the top 15 highest grossing companies in the country, and there’s a lot of nest feathering going on. PBM tactics have systematically driven local, independent pharmacies out of business so PBMs can move patients to pharmacies they own or control.

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