PBM Accountability Project

More than $1,000 out of the pocket of every Hoosier. That’s how much the state of Indiana paid #PBMs for prescription drug benefits over five years, according to a new interim report to the state’s Health Care Cost Oversight Task Force. These middlemen have bled the healthcare system for long enough – it’s time for Congress to do something about it. #PBMreforms #drugpricingpolicy #healthcarepolicy https://lnkd.in/g2YS9PVp

Momentum has grown for #PBMreform this year - Congress can’t miss this opportunity to deliver for patients across the country. We need real solutions to rein in these middlemen and lower drug costs. #Drugpricing #healthcarepolicy #affordableprescriptions #PBMs https://lnkd.in/gUNZTyN4

ICYMI: "It is important we keep a watchful eye on the evolving tactics of PBM megafirms as they proceed with owning more and more of the prescription drug supply chain.” As #PBM investigations continue, we're encouraged to see Senators Wyden and Brown shine a light on concerning new PBM tactics that will drive up out-of-pocket costs if we don't address them. https://lnkd.in/gDWakTMd

From NPR's The Indicator from Planet Money “…remember, #PBMs get a percentage of the rebates they negotiate with drug companies, so it’s actually in their interest for the drugs to be priced higher, so they can get a fatter rebate.” Congress has the opportunity to break the link between drug prices and #PBM pay – and lower out-of-pocket costs for patients. Before adjourning in December, lawmakers must fix this fundamentally broken system.   https://lnkd.in/gHNcbNFg

"A top California health plan is set to offer one of the world’s biggest-selling drugs for free in a bid to show the medicine can reach Americans affordably without going through the middlemen that typically control its flow." In other words, ditching the opaque, complex prescription drug buying model - with #PBMs in the middle - saves Americans money. It's clear that #PBMreforms would help lower out-of-pocket costs. https://lnkd.in/gvjVPCZr

California Governor Gavin Newsom recently vetoed important legislation which would have increased transparency and accountability of #PBMs. As our managing director Mark Blum states, "We are disappointed to see this legislation come to a halt on the Governor’s desk...We thank California state Senator Scott Wiener for his leadership on this bill and we applaud the California Pharmacists Association and all other stakeholders’ efforts to advocate for change...Patients, pharmacists, unions, employers and taxpayers deserve better protection than this from insurance corporation giants and their PBM middlemen in California and across the country.” Read the full statement here: https://lnkd.in/gNzZNzbY #drugpricing #healthcarepolicy #PBMreforms

"We applaud the Federal Trade Commission’s legal action against the three largest PBMs, known as the 'Big 3,' for their role in imposing skyrocketing insulin costs on patients with diabetes..." Congress must "follow suit by passing much-needed PBM-reform legislation that will prohibit categorically the whole spectrum of predatory PBM pricing practices." #PBMs #PBMreform #prescriptiondrugcosts #healthcarepolicy #FTC https://lnkd.in/eEhuESCY

The Federal Trade Commission is taking legal action against the major #PBMs saying these middlemen "have extracted millions of dollars off the backs of patients who need lifesaving medications.” #PBMs often favor more expensive insulin products, forcing patients to pay more for this needed treatment... And this is just one example of prescription drug price hikes caused by #PBMs. Congress can also help by passing needed reforms this year. https://lnkd.in/gHYsSN_6

Executives from the big three #PBMs were caught misleading Congress, and the House Oversight Committee knows it. Even so, the PBMs refused to correct their comments. https://lnkd.in/gTv-dWKB Watch #PBMs misleading comments here: https://lnkd.in/gxwVrXVT               

NEW: 46brooklyn Research report finds that #PBM drug pricing games are hurting people most where the drugs are needed most. It’s past time for their manipulation of the market to be addressed by lawmakers. #PBMreforms #drugpricingpolicy https://lnkd.in/grTAeDv2