Becker's Healthcare November 13, 2024
Matt Gibbs, PharmD, Pharmacy Transformation Leader at Blue Shield of California

What do you do when there’s an oligopoly controlling an industry, inhibiting price competition and consumer choice? You break it up. The three dominant pharmacy benefit managers (PBMs), CVS Caremark, Cigna’s Express Scripts and United’s OptumRx are drug-pricing middlemen, increasing costs and limiting choice for more than 200 million Americans. Collectively, they process more than 80% of prescriptions in the U.S., up from 50% in 2012. It’s time for their hold on employers and consumers to end.

PBMs were created by the pharmacy community to better connect the vast array of retail pharmacies to improve the patient experience, and to allow for near-instant electronic claims processing for prescriptions. They have since evolved, pushing employers and consumers to more expensive...

Today's Sponsors

LEK
ZeOmega

Today's Sponsor

LEK

 
Topics: Pharma, Pharma / Biotech, Supply Chain, Technology
Overturning Chevron Doctrine Could Impact Medicare’s Drug Selections For Price Negotiations
Merck Is Paying $588M for Potential Successor to Cancer Drug Juggernaut Keytruda
The financial burden of drug shortages: 7 study takeaways
What Stays True for U.S. Health Care Post #Election2024 (1) – Consumers’ Dissatisfaction with Drug Prices
Let The Numbers Speak: Prescription Drug Provisions In The Inflation Reduction Act

Share This Article