Pharmacy Benefit Managers (PBMs) play a crucial role in managing prescription drug benefits for Medicare plans, but their practices often result in higher costs and limited options for patients. This has become a significant concern, especially for those relying on Medicare.
What’s Happening? PBMs negotiate drug prices with manufacturers and pharmacies. While intended to reduce costs, these negotiations often lead to higher drug prices for patients and lower reimbursements for independent pharmacies. This threatens the survival of local pharmacies, reducing access to essential medications.
Healthcare Concerns: Many patients worry about their ability to afford medications and maintain access to local pharmacies. With PBM practices driving up costs and squeezing pharmacies, the fear is that by 2025, there might be fewer Medicare plan options and reduced access to necessary healthcare services for all patients.
What Can Prairie Gardens Pharmacy Do? Prairie Gardens Pharmacy is committed to advocating for fair practices that ensure patients can access affordable medications. By supporting legislative reforms, we aim to create a more transparent and fair system that benefits both patients and pharmacies.
How Can You Make a Difference? Your voice matters. Stay informed and review articles about PBM practices and their impact on healthcare. Share your concerns with legislators to support reforms that protect Medicare plan options and ensure affordable, accessible medications.
Call to Action: Review these articles to understand more about PBM practices and their effects on Medicare:
Find your legislative representatives http://oklegislature.gov/FindMyLegislature2.aspx
- https://www.nytimes.com/2024/06/21/business/prescription-drug-costs-pbm.html
- https://www.ftc.gov/news-events/news/press-releases/2024/07/ftc-releases-interim-staff-report-prescription-drug-middlemen
- https://www.managedhealthcareexecutive.com/view/3axis-report-scrutinizes-pbm-spread-pricing-practice
- https://www.wsj.com/finance/stocks/how-drug-middlemen-keep-beating-the-system-671a638b
Together, we can advocate for a better healthcare system.