Forbes December 18, 2024
Legislation in Congress to regulate pharmacy benefit managers (PBMs) appears to be good news for pharmacies owned by Walgreens, Walmart, Rite Aid and thousands of independent drugstores.
Pharmacies are closing across the country in recent years which their owners blame in part on a reimbursement squeeze from the PBMs that pay them. PBMs, which are considered middlemen between drug companies and consumers when it comes to purchasing medicines, administer drug benefits for employers and government health insurance including Medicaid coverage for poor Americans and Medicare benefits for seniors. In these roles, PBMs decide what pharmacists and pharmacies are paid to dispense prescription medications.
But PBMs have come under fire in recent years as the public, taxpayers and Congress question whether...
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