Decrease Drug Costs at the Pharmacy Counter

As you know, today the President laid out the Administration’s plan to address the high prescription drug costs. Included in the President’s statement were proposals to decrease the out of pocket costs for patients at the pharmacy counter.

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Co-Sponsor HR 1316, the Prescription Drug Price Transparency Act

Pharmacy Benefit Managers (PBMs) keep many of their practices – including the reimbursement rate for prescription drugs – shrouded in secrecy. In doing so, PBMs are able to manipulate the reimbursement rates for pharmacies in order to maximize their profit
margin. PBMs can and do fail to regularly update Maximum Allowable Costs (MAC) lists in order to charge plan sponsors and patients more, while reimbursing pharmacies less.

Read More

Co-Sponsor HR 1316, the Prescription Drug Price Transparency Act

Pharmacy Benefit Managers (PBMs) keep many of their practices – including the reimbursement rate for prescription drugs – shrouded in secrecy. In doing so, PBMs are able to manipulate the reimbursement rates for pharmacies in order to maximize their profit
margin. PBMs can and do fail to regularly update Maximum Allowable Costs (MAC) lists in order to charge plan sponsors and patients more, while reimbursing pharmacies less.

Read More

Co-Sponsor HR 1316, the Prescription Drug Price Transparency Act

Pharmacy Benefit Managers (PBMs) keep many of their practices – including the reimbursement rate for prescription drugs – shrouded in secrecy. In doing so, PBMs are able to manipulate the reimbursement rates for pharmacies in order to maximize their profit
margin. PBMs can and do fail to regularly update Maximum Allowable Costs (MAC) lists in order to charge plan sponsors and patients more, while reimbursing pharmacies less.

Read More

Co-Sponsor HR 1316, the Prescription Drug Price Transparency Act

Pharmacy Benefit Managers (PBMs) keep many of their practices – including the reimbursement rate for prescription drugs – shrouded in secrecy. In doing so, PBMs are able to manipulate the reimbursement rates for pharmacies in order to maximize their profit
margin. PBMs can and do fail to regularly update Maximum Allowable Costs (MAC) lists in order to charge plan sponsors and patients more, while reimbursing pharmacies less.

Read More

ICYMI: Wall Street Journal highlights the lack of transparency that causes increasing drug prices

I write to share a recent
article from the Wall Street Journal that highlights the lack of transparency in the prescription drug marketplace. Pharmacy Benefit Managers (PBMs) argue that they help cap prescription drug costs by exacting rebates and discounts from drug companies,
employers, and insurers. However, it is unclear how much, if any, of these savings PBMs pass on to their consumers because PBMs typically do not reveal their rebates even to their clients.  That is why transparency is a vital first step to decreasing prescription
drug costs for all Americans.

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