Pharmacy Benefit Managers: The Silent Squeeze on Independent Pharmacies in America
Industry experts gathered to discuss pharmacy benefit managers, their current grasp on the drug supply chain, and how it all impacts independent pharmacies.
From recent congressional hearings and ongoing investigations to anticipated legislation waiting to be signed into law, the spotlight pharmacy benefit managers (PBMs) have garnered in the past few years has reached beyond the pharmacy profession, into other facets of health care, and now has the federal government’s attention. Once known in the industry as “prescription drug middlemen,” PBMs have since been ridiculed for their opaque practices, which have steered independent pharmacies into a dire situation.
“When you go to fill your prescription and you use your insurance card, that is in essence a [PBM]. That's a third-party company that is managing the benefit of your prescription drugs, not only on the behalf of you, but maybe on the behalf of your employer. They determine what I get paid to dispense the prescription. They determine what you as the consumer pay at the pharmacy counter. They also determine if your drug is covered, if it's not covered,” said Tom DePietro, PharmD, independent owner of DePietro’s Pharmacy in Dunmore, Pennsylvania.
In this exclusive look into PBMs and how their actions truly impact health care as a whole, we sat down with industry experts of various backgrounds and affiliations to further understand key relationships that help the drug supply chain operate to its fullest capacity. From legal experts and advocates to pharmacists, they weighed in on the current state of pharmacy and what needs to happen in order for the profession to thrive in the future.
Full-length versions for all interviews of this PBM series are available on Over the Counter podcasting platforms and can be found on the Drug Topics website listed below:
- PCMA on Drug Pricing, Transparency, and the Role of PBMs
- How PBMs Impact Independent Pharmacies
- NCPA Representative Discusses Role in Influencing PBM Reform
- Litigation Lawyer on PBMs and Defending Independent Pharmacies
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