Photo source: AlphaSense
As a pharmacist, I have extensive experience working with the healthcare insurance industry. Sadly, I’m also aware of the often-negative impact that policies insurers and their Pharmacy Benefit Managers (PBMs) enforce can have on patients who are simply trying to fill prescriptions at their local pharmacy. In my opinion, Congress needs to step in and do something to ensure PBM practices do not threaten access or innovation that can help improve the lives of patients.
Unfortunately, PBMs use their immense power over the prescription drug marketplace to benefit themselves. Through access-restricting policies like prior authorization and pharmacy steering, these groups are able to dictate precisely when and where patients can access their vital prescription medications, therapies, and treatments. PBMs also withhold valuable prescription drug discounts and rebates to boost their bottom line rather than passing those savings down to patients to help reduce their out-of-pocket cost burdens.
This kind of behavior is quite frankly unconscionable and has no place in our healthcare system. Representative Letlow and the rest of our state’s congressional delegation should push for sensible PBM reform that protects patients and ensures they have access to the most state-of-the-art care available. They can do that by passing the Protecting Patients Against PBM Abuses Act.
This bipartisan legislation would help introduce some much-needed oversight and accountability over PBM practices, improving access and reducing out-of-pocket expenses that make it harder to afford the prescriptions millions of Americans need. Congress needs to pass this legislation immediately.
Kathy Willard
