Recently, Congress has begun setting its sights on the role PBMs play. Recent Congressional hearings have helped pull the curtain back on these shadowy "middle-men" of the pharmaceutical supply chain and exposed them as a major factor contributing to the skyrocketing price of many prescription drugs today.
Following these hearings, multiple bipartisan bills have been introduced that would hold PBMs accountable for their part in the rising cost of prescription drugs.
We encourage Congress to continue the work of protecting America's patients and take concrete steps toward comprehensive drug pricing transparency by zeroing in on PBMs and holding them accountable. Congress should embrace legislative proposals that:
Prevent PBMs from engaging in unfair or deceptive reimbursement and payment tactics
Increase oversight of entities that provide pharmacy benefit management services on behalf of group health plans and health insurance coverage
Require annual reports from PBMs
The PBM business model purposefully makes it hard to know if they are putting profits ahead of patient care and makes it difficult for consumers to hold them accountable. It's time for patients to have the full story.
Please contact your members of Congress today and ask them to hold PBMs accountable by passing comprehensive drug pricing transparency legislation today.