Greater transparency and accountability from pharmacy benefit managers (PBMs) will lower costs for patients and taxpayers
The Community Oncology Alliance (COA) endorses the Prescription Drug Price Transparency Act (H.R. 1316) and thanks Congressman Doug Collins (R-GA) and the bill’s bipartisan co-sponsors for standing up to the abuses of Pharmacy Benefits Managers (PBMs).
“PBMs have been abusing patients, pharmacies, and taxpayer in the shadows of our health care system for far too long. The result has been rising drug prices and an unnecessary layer of bureaucracy that has a very real – and sometimes dangerous – impact on patient care,” said Ted Okon, executive director of COA. “If passed, the Prescription Drug Price Transparency Act, and other legislation like it, will finally help curb PBM abuses. Increasing PBM transparency and fees will also finally move our country closer to solving rising drug costs.”
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