The PBM Accountability Project Calls on Congress for Immediate PBM Reform This Fall

The PBM Accountability Project Managing Director Mark Blum today submitted a letter to Congressional leaders urging swift action to pass PBM reform legislation this fall. The letter calls for critical reforms to lower prescription drug costs for hardworking Americans, including:

• De-linking PBM revenues from drug prices to eliminate perverse incentives that reward PBMs for steering patients toward higher-priced drugs and restricting affordable alternatives.

• Banning spread pricing - ending the system where PBMs charge employer and plan sponsor clients more than what they reimburse pharmacies.

• Passing all rebates and discounts directly to patients to lower out-of-pocket costs.

• Mandating PBM transparency to expose hidden practices that keep prices high and harm competition.

  
  

As the letter states, "Your constituents need immediate relief at the pharmacy counter, and local pharmacies need relief from unfair PBM practices that are putting them out of business. All taxpayers would benefit from the nearly $5 billion in Medicare savings that would be captured by reducing artificially inflated prescription drug prices and ending the opaque PBM pricing schemes that raise the cost of drugs."

To read the full letter, click here.