PBM Accountability Project Statement on The PBM Reform Act

Representative Buddy Carter (R-GA), along with 11 bipartisan members of Congress, today introduced the PBM Reform Act to reform the pharmacy benefit manager (PBM) market, delink PBM revenue from the price of prescription medications and increase transparency and fairness in the marketplace. Mark Blum, managing director of the PBM Accountability Project, issued the following statement:

“We appreciate Representative Carter’s leadership in re-introducing these critical reforms that will sever the link between PBM compensation and drug prices and curb predatory PBM practices that drive up prescription drug costs for patients, employers and states.

“As we have previously stated, these reforms will take several necessary steps. This includes: exposing hidden PBM profit schemes; providing much-needed oversight of the largest PBMs that control over 80% of drug purchasing; eliminating harmful practices like spread pricing and reimbursement clawbacks; prioritizing the needs of the American people by ensuring PBMs are compensated through flat service fees; and restoring fairness to the prescription drug marketplace.

“These efforts reiterate strong bipartisan consensus that PBM reform is urgently needed to deliver transparency and accountability for all Americans. We urge Congress to act swiftly to pass this vital legislation and provide lasting relief to consumers.”

To learn more about the PBM issue and legislative solutions, click here.