TRIB Live: PBM reform is a bipartisan issue

By Jennifer Riley, Patients Come First Pennsylvania’s Executive Director

The executive order signed by President Trump April 15, takes a step toward addressing the opaque and anticompetitive practices of pharmacy benefit managers (PBMs). While this is an important development, it’s important to recognize that PBM reform is supported by both parties in Congress.

PBMs are intermediaries between insurers, drug manufacturers and pharmacies responsible for deciding which drugs are covered and negotiating rebates and discounts. While PBMs are intended to drive down prices by leveraging their bargaining power, their business practices often lead to inflated costs for consumers.

Recent legislative efforts in Congress reflect a shared commitment to tackling PBM practices. Lawmakers on both sides of the aisle have voiced concerns about PBMs. In fact, bipartisan bills have been introduced aimed at increasing transparency in PBM operations, eliminating conflicts of interest and ensuring that savings from negotiated drug discounts are passed directly to consumers.

Read the full LTE in TRIB Live here.