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WASHINGTON – The National Association of Chain Drug Stores (NACDS) is hailing the U.S. House Oversight and Accountability Committee for its commitment to delivering true and comprehensive reform of pharmaceutical middleman tactics.
On Tuesday, September 19, the Committee is set to hold a hearing titled, “The Role of Pharmacy Benefit Managers in Prescription Drug Markets Part II: Not What the Doctor Ordered.” During the hearing — in the Committee’s words — “members will examine pricing tactics deployed by pharmacy benefit managers (PBMs) to enrich themselves at the expense of patients across the country.”The upcoming oversight hearing follows important action in March by House Committee on Oversight and Accountability Chairman James Comer (R-KY), when the Committee announced that it would be launching a Congressional investigation into the PBM tactics harming patient care and increasing costs for consumers.On May 23, the Committee held its first hearing on the topic, examining “how PBMs have an oversized role in the pharmaceutical marketplace.”NACDS President and CEO Steven C. Anderson said: “NACDS praises the bipartisan leadership demonstrated by the Committee to address the tactics and the damaging effects of PBM middlemen — which threaten patients, employers, pharmacies, taxpayers, and communities alike.“As the U.S. Congress considers a federal legislative solution, NACDS is reminding policymakers that real and comprehensive PBM reform must include the most vulnerable in the Medicaid and Medicare programs.“Specifically, NACDS is advocating for comprehensive PBM reform across all payer segments, consistent with NACDS’ Principles of PBM Reform. NACDS’ Principles of PBM reform include: stopping explosive retroactive fees; stopping below-cost reimbursement; stopping the gaming of performance measures; stopping ‘specialty definitions’ from steering patients from their pharmacy; stopping mandatory mail-order; stopping limited networks; stopping overwhelming audits; and stopping the undercutting of ‘PBM’ reform laws.“We appreciate the ongoing opportunity to engage with the Committee on the investigation, and we look forward to working on a bipartisan basis with other leaders in Congress to put an end to the manipulation and the complexities that PBMs inject into the system for their own benefit.”More information:NACDS President and CEO on Real PBM ReformNACDS Statement for September 19 Oversight Hearing
