Senate Commerce Committee Holds PBM Hearing

The pharmacy benefit manager (PBM) industry is under the magnifying glass again, this time by the US Senate Commerce Committee. During the hearing, senators brought up anti-competitive actions taken by major players, as well as other practices that hurt the bottom line for pharmacies and patients alike.

According to Zachary Brennan, “At the hearing, the use of overpayments, or clawbacks, was front and center. The practice allows PBMs to essentially ensure that the total cost of the drug is less than the patient’s copayment, which then causes PBMs to claw back the difference, causing pharmacies to lose money on prescription drugs after the fact. Ryan Oftebro, owner of a Seattle-based pharmacy that closed because of clawbacks, told senators that PBMs are impossible to predict, and that makes them impossible to operate under.”

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(Source: Endpoints News, February 16^th, 2023)