Of late, Pharmacy Benefit Managers (PBMs) have come under fire from nearly all corners of Congress. More than fifteen legislative proposals have been filed on changing the way PBMs operate, while six committees in Congress have convened hearings on the topic. Will all this attention lead to a good outcome for patients and taxpayers, many of whom have never even heard of the term “PBM”? It’s possible, but only if Congress takes care to enact free market reforms that boost visibility on PBMs’ pricing practices, rather than tipping the scales in favor of heavy-handed government regulators.
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