Tag: pbm

Commentary: The Left’s Misguided Attempt at a Drug Pricing ‘Fix’

Admin

Here in Tennessee, we stand up for what’s best for our communities and do what we can to encourage our elected officials to act in the best interests of our families and taxpayers. In health care, it often becomes convoluted and hard to decipher what will actually improve the lives of patients. When it comes to prescription drug affordability, prices continue to skyrocket and we need our lawmakers to do what they can to effectively lower costs and reject policies that will actually hurt patients and families.

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Commentary: Middlemen Who Control the Prescription Drug Market Are Responsible for Rising Insulin and Drug Prices

Admin

Why is insulin, invented more than 100 years ago, still unaffordable for many of America’s 10 million diabetics who rely on it?

Politicians reflexively blame pharmaceutical manufacturers. Sen. Bernie Sanders asked rhetorically in November, “What possible reason, other than greed, could there be for the pharmaceutical industry to raise the price of insulin by more than 1,400%?”

Michigan Attorney General Dana Nessel recently announced plans to investigate rising insulin prices as a pretext for increased government regulation of the market. “While drug companies profit off of people’s health, they also benefit from a current market in which they control the pricing,” she proclaimed. “Enough is enough.”

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Minnesota Bipartisan Bill Aims to Reduce Prescription Drug Costs

The Center Square

A bipartisan bill claims it would reduce the cost of prescription drug costs to save taxpayers a potential millions – if not billions – of dollars.

Sen. Michelle Benson, R-Ham Lake, held a Friday news conference with Rep. Mike Howard, D-Richfield, highlighting the bill

SF 2178 would allow the state to share bid information submitted by pharmacy benefit managers (PBMs) for public employee contracts. The reverse auction process incentivizes PBMs to compete against each other by submitting lower offers in bidding rounds to win a contract, which is meant to achieve cost savings without impacting the quality of state health benefit plans.

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Ohio Attorney General Pushes to Reform Drug Pricing By Focusing on Middlemen

Andrew Shirley

Ohio Attorney General Dave Yost blasted the middlemen responsible for negotiating drug prices on behalf of the state Monday, calling for immediate legislative action. The move comes a month after the state formally launched a lawsuit against the pharmacy benefit managers (PBM) responsible for the negotiations. Currently, Ohio cannot directly negotiate with major prescription drug manufacturers. The only means by which the prices of prescription drugs can be addressed in the Buckeye State is through PBMs or drug negotiators. Since they are compensated by the state, it’s expected of them to put the priority of Ohioans above all else. In June of last year, then Attorney General Mike DeWine, now governor, formally launched an investigation into the organizations, alleging that they were putting their own interests before the state. DeWine noted: Since the end of 2017, my office has been reviewing and investigating issues regarding PBMs and their contracts with Ohio agencies, such as the Ohio Department of Medicaid, the Ohio Bureau of Workers’ Compensation, the Ohio Department of Administrative Services, and our numerous pension systems. It is clear that the conduct by PBMs in these areas remains a major concern, and we anticipate that our investigation will result in…

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