SmithRx’s Post

The New York Times’ coverage underscores the urgent demand for true reform and transparency. As the investigation concludes, the Big 3 PBMs operate in opaque, risky and increasingly questionable ways to the detriment of local employers and patients they are supposed to serve. This article exposes many aspects of a broken health care system, a vice-grip on a competitive market, and further evidence that a continued risky approach based on spread-pricing and market consolidation by mega-insurers and big PBMs is simply too costly for American working families and job-creators.    With premiums projected to grow again it is urgently clear now, transparent drug pricing and reliable pharmacy supply-chains are essential for ensuring equitable access to medications and lowering healthcare costs for all Americans.    Transparency-Rx and our member companies, representing over 16 million covered lives, are committed to bringing much-needed solutions that will help lower prescription prices and improve accessibility to patients. We have proven approaches reducing out of pocket costs for patients and accelerating access to affordable prescriptions through pass-through platform, improved U.S. technology, and rebates. Our goal is to restore trust in healthcare markets by facilitating fairness in competition and true partnerships with drug makers, pharmacists and aligned carriers. We applaud the Congressional and national leaders who are diligently working on solutions to help rein in PBMs’ anti-competitive tactics, acutely in commercial markets. https://lnkd.in/dB83R7h9

In case you missed it 😉 "The job of the P.B.M.s is to reduce drug costs. Instead, they frequently do the opposite." That's from this morning's The New York Times front-page article; it's an incredible read on the #PharmacyBenefitManagement industry based on what appears to be exceptional due diligence. For six years, we've been battling the "status quo" traditional PBM business model's opacity and misaligned incentives, which have thrived at the expense of payers and patients despite clear warnings. If you've ever heard A. J. Loiacono, Ryan Kelly, Kristin Begley, PharmD, et al. speak at conferences, on webinars, or at finalist meetings, then you know why we're saying, "Thank you, Rebecca Robbins and Reed Abelson, for highlighting how clear and present many of the issues remain, as well as the real impact they have on America's healthcare consumers." #PharmacyBenefitAdministration #AlignmentMatters #DrugPrices #HealthCareCosts Check out the article here: https://okt.to/5r8Ha2

"The job of the P.B.M.s is to reduce drug costs. Instead, they frequently do the opposite." That's from this morning's The New York Times front-page article; it's an incredible read on the #PharmacyBenefitManagement industry based on what appears to be exceptional due diligence. For six years, we've been battling the "status quo" traditional PBM business model's opacity and misaligned incentives, which have thrived at the expense of payers and patients despite clear warnings. If you've ever heard A. J. Loiacono, Ryan Kelly, Kristin Begley, PharmD, et al. speak at conferences, on webinars, or at finalist meetings, then you know why we're saying, "Thank you, Rebecca Robbins and Reed Abelson, for highlighting how clear and present many of the issues remain, as well as the real impact they have on America's healthcare consumers." #PharmacyBenefitAdministration #AlignmentMatters #DrugPrices #HealthCareCosts Check out the article here: https://okt.to/r40qBn

"The job of the P.B.M.s is to reduce drug costs. Instead, they frequently do the opposite." That's from this morning's The New York Times front-page article; it's an incredible read on the #PharmacyBenefitManagement industry based on what appears to be exceptional due diligence. For six years, we've been battling the "status quo" traditional PBM business model's opacity and misaligned incentives, which have thrived at the expense of payers and patients despite clear warnings. If you've ever heard A. J. Loiacono, Ryan Kelly, Kristin Begley, PharmD, et al. speak at conferences, on webinars, or at finalist meetings, then you know why we're saying, "Thank you, Rebecca Robbins and Reed Abelson, for highlighting how clear and present many of the issues remain, as well as the real impact they have on America's healthcare consumers." #PharmacyBenefitAdministration #AlignmentMatters #DrugPrices #HealthCareCosts Check out the article here: https://okt.to/4JNCSg

Despite congressional efforts to increase transparency and limit drug pricing, pharmacy spending is still on the rise. This is due to factors such as drug prices, utilization, and emerging therapies. As a result, employers may find it challenging to limit the impact of rising prescription costs on their premiums. However, there are alternatives to consider. #pharmacy #drugpricing #healthcare #employers #alternatives #EmployeeBenefits #Insurance

"The job of the P.B.M.s is to reduce drug costs. Instead, they frequently do the opposite." That's from this morning's The New York Times front-page article; it's an incredible read on the #PharmacyBenefitManagement industry based on what appears to be exceptional due diligence. For six years, we've been battling the "status quo" traditional PBM business model's opacity and misaligned incentives, which have thrived at the expense of payers and patients despite clear warnings. If you've ever heard A. J. Loiacono, Ryan Kelly, Kristin Begley, PharmD, et al. speak at conferences, on webinars, or at finalist meetings, then you know why we're saying, "Thank you, Rebecca Robbins and Reed Abelson, for highlighting how clear and present many of the issues remain, as well as the real impact they have on America's healthcare consumers." #PharmacyBenefitAdministration #AlignmentMatters #DrugPrices #HealthCareCosts Check out the article here: https://okt.to/DcUS0E