The 3 Types of PBM Reform Aiming to Change the Pharmaceutical Market
Antonio Ciaccia, President of 3 Axis Advisors, CEO of 46brooklyn Research, and pharmacy benefits expert, discusses litigious, market-based, and legislative reform for pharmacy benefit managers.
When it comes to pharmacy benefit manager (PBM) reform, pharmacists and industry advocates have been fighting for a change to the way prescription drugs are distributed in the US. The 3 most notable avenues of enacting PBM reform have been identified through legislation, litigation, and market-based solutions.
“I think there's 3 main buckets of PBM reform. One is legislation, one is litigation, and another is market-based solutions,” said Antonio Ciaccia, President of 3 Axis Advisors and CEO of 46brooklyn Research.
Ciaccia has previously worked for the Ohio Pharmacists Association and has conducted extensive research into prescription drug benefits and how they are distributed. Even with some experience uncovering PBM practices in his state of Ohio, Ciaccia has stood out as an authoritative expert on the notable animosity between PBMs and pharmacists.
“One way or another, I think all of these things could represent reform,” he continued. “They also may not necessarily be the reform, but they could be the catalyst for reform.” Watch the video to learn more about Ciaccia’s take on the 3 main opportunities for the US to encourage PBM reform and increase access to prescription drugs.
Stay tuned for more from our interview with Ciaccia as he dives deeper into how PBMs began receiving scrutiny in the first place and the common misconceptions patients and pharmacists may have about these prescription drug middlemen.
READ MORE: As a Result of PBM Reform, CVS Will Close Over 20 Pharmacies in Arkansas
Pharmacy practice is always changing. Stay ahead of the curve: Sign up for our free Drug Topics newsletter and get the latest drug information, industry trends, and patient care tips, straight to your inbox.
