Legislation will rein in the profiteering, anticompetitive and anti-consumer practices of PBMs, creating price transparency, making prescriptions more affordable for patients, and bringing savings to employers and taxpayers
The PBM Accountability Project sent a letter to Members of Congress as they weigh legislative action to lower healthcare costs for Americans, encouraging meaningful solutions to hold pharmacy benefit managers – or PBMs – accountable for their role in driving up out-of-pocket costs for prescription medicines.
Nearly 50 patient, provider, pharmacy, consumer, organized labor and antitrust advocates signed the letter, which highlights two key provisions "critical to achieving the bipartisan goal of lowering prescription drug costs that Congress has pursued for many years," including:
Break the link between PBM income and drug prices in the private marketplace and in the Medicare program.
Americans with chronic diseases should directly benefit from the savings PBMs negotiate with drug manufacturers.
The groups write, "The predatory impact of PBM practices is extensively documented in the public record. And it is felt every day at pharmacy counters by millions of Americans who cannot afford their medicines. The time to deliver real results is now."
To read the full letter, click here.