WASHINGTON, D.C. – Congressman Earl L. “Buddy” Carter (GA-01) recently chaired a hearing focused on the role of Pharmacy Benefit Managers (PBMs) in the healthcare system. The session was titled An Examination of How Reining in PBMs Will Drive Competition and Lower Costs for Patients.
Chairman Carter emphasized the importance of tackling issues that raise prescription drug costs for patients. “We must stop the practices that increase out-of-pocket expenses,” he said. He highlighted that the committee is committed to finding solutions that help patients access their medications. This hearing provided a platform for medical professionals and experts to discuss how regulating PBMs and enhancing transparency could lead to a better healthcare system for everyone.
Here are some key points from the discussion:
Rep. Diana Harshbarger (TN-01) pointed out that PBMs do not directly treat patients, yet their influence affects healthcare access. She stressed that communities rely heavily on independent pharmacies for trusted healthcare. Harshbarger called for bipartisan support for PBM reform, stating it is crucial for ensuring patient access to a diverse range of pharmacies.
Rep. Mariannette Miller-Meeks (IA-01) discussed how PBMs often inflate drug prices, which limits access for patients across all demographics. She mentioned that although PBMs claim to negotiate lower prices with drug manufacturers, many patients still end up paying more due to inflated list prices. This practice is particularly evident in Medicare Part D, where many beneficiaries do not see the benefits of negotiated rebates.
Rep. Troy Balderson (OH-12) highlighted how PBM practices contribute to the closing of independent pharmacies nationwide. He shared that his constituents often discuss losing access to local pharmacies that have served their communities for years. The decline in pharmacies is not just an issue for rural areas; it is a widespread concern affecting patients everywhere.
The dialogues during the hearing reflect ongoing efforts to reform how PBMs operate, aiming to create a more patient-centered healthcare system. With continued focus on these issues, there is hope for meaningful changes that will benefit patients and pharmacists alike.
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