Drug Topics April 19, 2024
Representatives from the US Government Accountability Office (GAO) interviewed regulators from 5 states on pharmacy benefit manager laws.
The US Government Accountability Office (GAO) addressed the measures that states have taken to regulate pharmacy benefit managers (PBMs). Focusing on 5 states—Arkansas, California, Louisiana, Maine, and New York—the GAO found rules requiring drug-pricing transparency, pharmacy access, and licensure, among other things.
What’s the Issue?
PBMs are the “middlemen” between insurance plans, drug manufacturers, and patients. It is their job to administer prescription drug benefits and help control costs.1 However, they’ve come under recent fire for their ability to maliciously operate in the shadows to the detriment of patients and community pharmacies, which prompted the GAO’s report.
- All 5 states enacted...
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