US Senate Finance Committee Unveils Plan to Regulate PBMs
April 21, 2023
A group of US senators in the Senate Finance Committee have released their plan to implement regulation targeting the pharmacy benefit manager (PBM) industry. The plan proposes changing how PBMs get compensated for drug sales, increasing transparency, and holding them financially and legally accountable for violations.
According to Phil Taylor, “The Pharmaceutical Care Management Association (PCMA) – which represents PBMs – said when the Act was introduced in the Senate earlier this year, that it ‘fundamentally misconstrues the role of pharmacy benefit companies and unfairly proposes to take away employers’ choice and flexibility in how they construct their pharmacy benefits to best fit the needs of their patient populations.’”
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(Source: Pharmaphorum, April 21st, 2023)
