Senate Committee Puts PBMs Under the Microscope
Pharmacy benefit managers (PBMs) — middlemen between pharmacies, health insurers, and drug companies — are responsible for driving up prescription drug prices and shuttering independent pharmacies, witnesses said during a hearing held by the Senate Commerce, Science, & Transportation Committee. Three of the four witnesses — an economist, a physician, and a pharmacist — called […]
PBMs Under Fire at Senate Hearing
The role of pharmacy benefit managers (PBMs) in the drug supply chain and whether “anti-competitive” practices are driving up healthcare costs was scrutinized by the Senate on Thursday. PBMs are just one player in a “broken supply chain” explained Richard Blumenthal (D-Conn.), during a Thursday hearing of the Senate Subcommittee for the Committee on Commerce, […]