Government Solution Not Needed to Reduce Drug Costs
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In a recent article in the Bristol Herald Courier, David Balto gives a great summary of the problems with the pharmacy benefit management industry, such as the lack of transparency in traditional PBMs. However, Balto seems to believe that the answer to these problems is more government regulation, but that is not necessary. Employers just need to choose the right PBM to manage their prescription drug benefit. Your PBM should separate compensation from the product. Using a third party to monitor performance will fix 90% of the problems discussed in this article.
“Today, one in four Americans who need prescription drugs struggle to afford them — one in four,” president Joe Biden. The last two administrations have
Government Solution Not Needed to Reduce Drug Costs
In a recent article in the Bristol Herald Courier, David Balto gives a great summary of the problems with the pharmacy benefit management industry, such as the lack of transparency in traditional PBMs. However, Balto seems to believe that the answer to these problems is more government regulation, but that is not necessary. Employers just need to choose the right PBM to manage their prescription drug benefit. Your PBM should separate compensation from the product. Using a third party to monitor performance will fix 90% of the problems discussed in this article.
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