PBMs need greater oversight, accountability per Pennsylvania auditor general report.
Click below for articles that elaborate these findings….
The report finds that PA taxpayers paid $2.86 Billion to PBM’s for state Medicaid prescription benefits. This was a 100% increase in spending within 4 years. A lack of transparency prevented the AG from finding how much of this was pure profit taking by PBM’s.
This is similar to the report from Ohio. That state also found “spread pricing” and other opaque practices by PBM’s. There is valid speculation that the state can save significant tax dollars and improve competition by regulating the PBM’s.
Maryland tax payers also deserve savings, our independent pharmacies also deserve fair markets and prevent anti-competitive practices. IPMD is appealing to MD state residents to ask their state legislators to get an audit done in MD. Ask them how much tax payer dollars are wasted on PBM “spread pricing”, “rebate pay for play” practices that lead to higher drug costs, lower competition, poor health outcomes by encouraging quantity over quality in managing patient care.
To find your legislator use this link.