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WASHINGTON — The Pharmaceutical Care Management Association (PCMA) released the following statement ahead of the U.S. House Committee on Oversight and Accountability hearing, “The Role of Pharmacy Benefit Managers in Prescription Drug Markets Part III: Transparency and Accountability,” on pharmacy benefit managers (PBMs).
“We encourage the U.S. House Oversight Committee lawmakers to engage in a balanced discussion that accurately considers the cost-reducing role of PBMs and the value they deliver for health plan sponsors, taxpayers, employers, and patients,” said JC Scott, president and CEO of PCMA. “Too many recent conversations around PBMs reflect a one-sided view informed directly by the pharmaceutical industry’s blame game designed to vilify PBMs to keep prescription drug prices high and increase drug company profits.
“The critical role of PBMs in our healthcare system is undeniable. PBMs create access to affordable prescription drugs, saving patients and health plans $1,040 per person per year on drug costs.
“It’s also extremely important to acknowledge that the PBM marketplace is competitive and diverse, with more than 70 full-service pharmacy benefit companies serving America’s employers and other plan sponsors to help them offer quality, affordable prescription drug benefits to patients.
“In addition to operating in a highly competitive market, PBMs continue to innovate as the market evolves, implementing new programs that meet the market’s demand for increased transparency, lowering out-of-pocket costs for consumers, and addressing access to new treatment options like biosimilars and GLP-1s. Additionally, PBMs are actively promoting a better pharmacy experience for both patients and pharmacists by increasing reimbursements to rural pharmacies and ensuring they are fully represented in networks.
“The Committee members have an opportunity to discuss policies that will reform the patent system, promote competition, and actually address what Americans are asking for – lower costs and better access. We hope they seize the opportunity.”
