Over the last year, state and federal policymakers have been vocal regarding the need to curb rising prescription costs for Americans, as well as the importance of increased transparency in the health care industry. Throughout this dialogue, pharmacy benefit managers (PBMs) have been highly criticized for their masked revenue streams, which impact costs for employers, patients, and the nation.

The current administration and the Department of Health and Human Services, have proposed changes to one such source of revenue, the current drug rebate system from which many PBMs derive some of their profits.

However, the root cause of rising costs is not confined to rebates. Today, the United States incurs $750 billion in health care waste, while medical errors, including inappropriate and dangerous care, are the third leading cause of death. A PBM industry focused on profits rather than patients compounds these problems. They must change and start focusing on better patient care.

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