Over the last year, state andfederal policymakers have been vocal regarding the need to curbrising prescription costs for Americans, as well as the importanceof increased transparency in the health care industry. Throughoutthis dialogue, pharmacy benefit managers (PBMs) have been highlycriticized for their masked revenue streams, which impact costs foremployers, patients, and the nation.
The current administration and the Department of Health andHuman Services, have proposed changes to one such source of revenue, thecurrent drug rebate system from which many PBMs derive some oftheir profits.
However, the root cause of rising costs is not confined torebates. Today, the United States incurs $750 billion in health care waste, whilemedical errors, including inappropriate and dangerous care, are thethird leading cause of death. A PBM industry focused on profitsrather than patients compounds these problems. They must change andstart focusing on better patient care.
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