On Wednesday, April 3, theSenate Finance Committee will hold its third hearing ondrug-pricing this year, and five of the leading PBMs will be calledto testify.
On April 3rd, pharmacy benefit managers (PBMs), the invisible middlemen of the health careindustry, will be front and center for the world to see. No longerable to lurk behind the scenes, top executives from fivePBMs—UnitedHealth Group's Optum, Cigna Corp, Humana Inc, CVS HealthCorp, CVS Caremark, and Prime Therapeutics LLC—have been invited to testify before Congress as part of aseries of drug pricing hearings examining the healthcaremarketplace and soaring drug costs.
PBMs were initially set up to help control drug utilization andcost. It was thought that having middlemen specifically devoted toincreasing efficiency and lowering cost that they could improve thesystem for everyone involved.
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