Michigan Pharmacists Association

The Federal Trade Commission today released a scathing report on how pharmacy benefit managers (PBMs) profit at the expense of patients by inflating drug costs and squeezing independent pharmacies. In the report, the FTC details how vertical integration and concentration has enabled the six largest PBMs to manage nearly 95% of all prescriptions filled in the United States. “The FTC’s interim report lays out how dominant pharmacy benefit managers can hike the cost of drugs — including overcharging patients for cancer drugs,” FTC Chair Lina M. Khan said. “The report also details how PBMs can squeeze independent pharmacies that many Americans — especially those in rural communities — depend on for essential care. The FTC will continue to use all our tools and authorities to scrutinize dominant players across healthcare markets and ensure that Americans can access affordable health care.” The report finds that PBMs wield enormous power over patients’ ability to access and afford their prescription drugs, allowing PBMs to significantly influence what drugs are available and at what price. This can have dire consequences, with nearly 30 percent of Americans surveyed reporting rationing or even skipping doses of their prescribed medicines due to high costs, the report states. Read the FTC report in its entirety:

There's still room in MPA's third quarter Pharmacy Law Update Wednesday! Register here for the webinar: https://ow.ly/YOcp50SefEb

MPA's next live webinar for the Point-of-Care Test & Treat certificate program will be Aug. 14. Note: This is a mixed-format CE with self study components that must be completed before the live date. Register for webinar: https://lnkd.in/eu4r88BU

In the Trauma-Informed Workforce Certificate Training Program, trauma expert Dr. Helen (Heleen) Sairany 🚀 helps overwhelmed entrepreneurs, practitioners and industry leaders who function in survival mode regain their awareness and consciousness to survive and thrive. Participants can take the training either a la carte or in its entirety. The first live-session offerings are fast approaching! Visit https://lnkd.in/eQDAs_WW to learn more or to register.

MPA is officially accepting educational proposals for the 2025 Annual Convention & Exhibition in Traverse City. The proposal deadline is 5 p.m. Oct. 8, 2024. Fill out the form here to get started: https://ow.ly/bYTl50SmjJg

The agenda for the MSHP Annual Meeting Oct. 25 in Grand Rapids has been finalized! Register for the conference, book your room and read up on what will all be taking place here: https://lnkd.in/ePNfNgS3

🎆Happy Fourth of July! MPA and PSI Insurance Agency offices will be closed today.

One week left until the third quarter Pharmacy Law Update webinar July 10! Register here: https://ow.ly/ac8I50SefTu

MPA Director of Government Affairs Eric Roath met last week with Jordan Marchetti, owner of The Drug Store in Iron Mountain, to discuss ongoing challenges with pharmacy reimbursement. Pharmacy benefit managers (PBMs) continue to violate existing laws and regulations, making it increasingly difficult for pharmacies to continue to serve their patients. It’s vital that pharmacies report violations to the Department of Insurance and Financial Services (https://lnkd.in/eSxBeRFE) and make it clear to their state lawmakers that more needs to be done to curb PBM abuses.

MPA's next live webinar for the Point-of-Care Test & Treat certificate program will be Aug. 14. Note: This is a mixed-format CE with self study components that must be completed before the live date. Register for webinar: https://lnkd.in/eu4r88BU