#pbms — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #pbms, aggregated by home.social.
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Louisiana settles two lawsuits with pharmacy giant; independent druggists react
BATON ROUGE — A long-running legal dispute between the state and C…
#NewsBeep #News #US #USA #UnitedStates #UnitedStatesOfAmerica #Healthcare #AttorneyGeneral #BatonRouge #CVS #drugprices #Health #Lawsuits #legaldispute #Louisiana #LouisianaIndependentPharmacyAssociation #PBMs #pharmacybenefitmanagers #PrescriptionstoGeaux #RandalJohnson #retailpharmacies #Settlements #T.J.Woodard
https://www.newsbeep.com/us/351724/ -
Louisiana settles two lawsuits with pharmacy giant; independent druggists react
BATON ROUGE — A long-running legal dispute between the state and C…
#NewsBeep #News #US #USA #UnitedStates #UnitedStatesOfAmerica #Healthcare #AttorneyGeneral #BatonRouge #CVS #drugprices #Health #Lawsuits #legaldispute #Louisiana #LouisianaIndependentPharmacyAssociation #PBMs #pharmacybenefitmanagers #PrescriptionstoGeaux #RandalJohnson #retailpharmacies #Settlements #T.J.Woodard
https://www.newsbeep.com/us/351724/ -
(16 Jun) Ohio pharmacies can’t keep filling prescriptions at a loss
A pharmacy manager retrieves a bottle of antibiotics. (Photo by Joe Raedle/Getty Images)As a pharmac...
https://s.faithcollapsing.com/qduku
Archive: ais: https://archive.md/wip/JTQGb ia: https://s.faithcollapsing.com/0rxhw#commentary #ohio-pharmacies #ohio-pharmacies-walgreens #pbms #walgreens
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"The American Economic Liberties Project today released new research showing that at least 326 U.S. pharmacies have closed since Dec. 19, 2024, when Congress abandoned bipartisan, bicameral PBM reforms as part of a stopgap spending bill. The new data comes ahead of a vote in Congress tomorrow on a continuing resolution to fund the government, where the policymakers could include much-needed structural PBM reform.
“Despite later admitting that he does not know what a pharmacy benefit manager (PBM) is, Elon Musk successfully tanked PBM reforms with nearly unanimous House support late last year,” said Emma Freer, Senior Policy Analyst for Healthcare at the Economic Liberties Project. “As predicted, without Congressional intervention, the Big Three PBMs have continued to abuse their market power, squeezing at least 326 pharmacies – 237 of them independent – out of business in fewer than 10 weeks and stranding their most vulnerable patients in pharmacy deserts without access to lifesaving care. Given these high stakes, it is critical that Congress stand up to these healthcare monopolist middlemen and pass structural PBM reforms that will save their constituents’ time, money, and lives.”
#USA Musk #DOGE #PBMs #BigPharma #Healthcare #Oligopolies #Competition #Antitrust
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As prescription drug prices continue to increase and federal efforts to control them stall,
state lawmakers are focusing on #PBMs, the middlemen which help insurers decide which drugs their plans cover and how much patients will pay out-of-pocket to get them.
However, they have been stymied by the drug industry’s secretive ecosystem of rebates, reimbursements, and obscure fees, thwarting efforts to lower drug costs.
In addition to California, PBM reforms have been introduced this legislative session in Arkansas, Iowa, and at least 20 other states as of Feb. 10.
Athough Trump has criticized PBMs and vowed to “knock out the middleman,”
his recent actions undoing moves to lower prescription drug prices have left some health care experts skeptical that meaningful reform will come from Washington, D.C.
https://kffhealthnews.org/news/article/california-legislation-pharmacy-benefit-managers-pbms-middlemen-newsom/?dml-collection=88e63b63ff2ef939bbb98206afb0eea1&utm_source=distributedmedialab&utm_medium=referral&noamp=mobile -
PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
https://thehill.com/policy/healthcare/5085119-ftc-report-pharmacy-benefit-managers/#pbm #pbms #PBMreform #cigna #unitedhealth #prescriptions #pharmacybenefitmanagers #cvs #caremark #ushealthcarecosts #ushealthcare #healthinsurance
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PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
https://thehill.com/policy/healthcare/5085119-ftc-report-pharmacy-benefit-managers/#pbm #pbms #PBMreform #cigna #unitedhealth #prescriptions #pharmacybenefitmanagers #cvs #caremark #ushealthcarecosts #ushealthcare #healthinsurance
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PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
https://thehill.com/policy/healthcare/5085119-ftc-report-pharmacy-benefit-managers/#pbm #pbms #PBMreform #cigna #unitedhealth #prescriptions #pharmacybenefitmanagers #cvs #caremark #ushealthcarecosts #ushealthcare #healthinsurance
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PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
https://thehill.com/policy/healthcare/5085119-ftc-report-pharmacy-benefit-managers/#pbm #pbms #PBMreform #cigna #unitedhealth #prescriptions #pharmacybenefitmanagers #cvs #caremark #ushealthcarecosts #ushealthcare #healthinsurance
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PBMs made billions marking up specialty drugs by more than 1,000 percent: FTC
https://thehill.com/policy/healthcare/5085119-ftc-report-pharmacy-benefit-managers/#pbm #pbms #PBMreform #cigna #unitedhealth #prescriptions #pharmacybenefitmanagers #cvs #caremark #ushealthcarecosts #ushealthcare #healthinsurance
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#Warren, #Hawley join forces for #USSenate bill to force health #insurers to sell off #pharmacies, #PBMs
#healthcare #healthinsurance #insurancereform #PBM #affordablehealthcare #corporategreed
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#FTC Sues #PBMs for Jacking Up Insulin $
"3 largest pharmacy benefit managers (PBMs)— #middlemen [aka #parasites] tt sit btw #patients, drug cos, & pharmacies in #prescriptiondrug trxns—for practices tt hv spiked the cost of #insulin by over 1200% over the past 2 decades.. PBMs use formularies to provide exclusive or near-excl use of certain types of insulins.. PBMs aren't preferring lowest-price insulins, but ones tt give them highest #rebates, which is how they #profit"
https://prospect.org/health/2024-09-20-ftc-sues-pbms-jacking-up-insulin-prices/ -
What are PBMs? Read this and see how else the medical "industry" is ripping you off. Resist the Shield of Boringness and My Eyes Glaze Over (MEGO)
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i heard this on the news and yelled YES FINALLY!!! this is such a big deal . #PBMs take so much money out of our pockets and make insane profits. it is the worst part of our health care system.
https://www.nytimes.com/2024/09/20/health/ftc-drug-price-inflation-insulin.html?unlocked_article_code=1.MU4.WNfi.kX8-GJkvVLSW&smid=url-share -
US government appeals Gilead's trial win in Truvada, Descovy patent fight—Lilly’s Mounjaro helps patients lose more weight than Novo’s Ozempic — FTC report finds PBM power has “dire consequences” —http://bit.ly/w28kSd #gileadsciences #patents #elililly #mounjaro #ozempic #novonordisk #ftc #pbms #pharma #pharmanews #biotech #biopharma #biotechnology #cafepharma
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Big Pharma spends billions more on executives and stockholders than on R&D - Enlarge (credit: Senate HELP Committee)
When big pharmaceutica... - https://arstechnica.com/?p=2002556 #pharmaceuticalindustry #researchanddevelopment #bristol-myerssquibb #johnson&johnson #berniesanders #drugpricing #science #patents #merck #pbms
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Read Bob's @STAT investigation from last year, which was quoted in the suit.
PBMs are paying consultants to refer business to them, which is a conflict of interest that may cost employers who use a consultant to get the the "best" deal on pharmacy benefits:
https://www.statnews.com/2023/06/20/pbms-consulting-firms-investigation/#health #healthcare #medicine #pharma #pbms #bigpharma #drugpricing #healthpolicy #consulting
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For the millions of Americans that take one or more prescription drugs, having a health insurance plan that covers their medications is crucial.
The list of covered medications — called a drug formulary — can mean the difference between a $10 copay at the pharmacy and paying thousands out-of-pocket for a vital medication.
Yet unbeknownst to many patients, 👉insurers can change their drug coverage throughout the year, thereby removing medications that enrollees were promised.
When this happens, ♦️those who lose access to their medicines are usually barred from immediately moving to a different insurance plan♦️.
The problem is widespread and growing: 👉In the last nine years, the number of medications being eliminated from many insurance plans skyrocketed by around 🔥1,584 percent🔥#
🏟️Drug formularies are dictated by pharmacy benefit managers, or #PBMs — powerful companies that determine drug benefits on behalf of health insurers, Medicaid Part D drug plans, employers, and other health care payers.
These companies negotiate with pharmaceutical manufacturers to determine what drugs health plans will cover and how much the drugs will cost to $.
🔸The three largest PBMs are owned by major health insurance companies, a form of vertical integration that some health care experts worry may be leading to higher drug prices and lower quality care for patients.
🔸For the same reasons, PBMs are incentivized to only keep drugs on formularies that make them the most money.
https://www.levernews.com/why-drugs-are-disappearing-from-your-insurance-coverage/ -
Pfizer more than doubles price of life-saving COVID antiviral, Paxlovid - Enlarge / A box of Paxlovid, the Pfizer antiviral drug. (credit: Getty ... - https://arstechnica.com/?p=1977187 #pharmacybenefitmanagers #prescriptiondrugpricing #pharmaceuticalindustry #antiviral #listprice #pricehike #covid-19 #paxlovid #science #health #pfizer #price #pbms
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Pfizer more than doubles price of life-saving COVID antiviral, Paxlovid - Enlarge / A box of Paxlovid, the Pfizer antiviral drug. (credit: Getty ... - https://arstechnica.com/?p=1977187 #pharmacybenefitmanagers #prescriptiondrugpricing #pharmaceuticalindustry #antiviral #listprice #pricehike #covid-19 #paxlovid #science #health #pfizer #price #pbms
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Pfizer more than doubles price of life-saving COVID antiviral, Paxlovid - Enlarge / A box of Paxlovid, the Pfizer antiviral drug. (credit: Getty ... - https://arstechnica.com/?p=1977187 #pharmacybenefitmanagers #prescriptiondrugpricing #pharmaceuticalindustry #antiviral #listprice #pricehike #covid-19 #paxlovid #science #health #pfizer #price #pbms
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@tanyatussing
During my years of medical practice, I viewed #PBMs -- pharmacy benefit managers -- as useless middlemen. Worse than useless actually, destructive. They made profits by gaming a broken #UShealthcare system, providing no value to anyone except themselves.In short, as a practicing physician, I wished PBMs would disappear completely and thought US healthcare would be better without them. Full stop.
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a feel good story from the @washingtonpost https://www.washingtonpost.com/lifestyle/2023/01/19/alabama-farmer-hody-childress-prescriptions/
still, a pox on the pharmacy benefit managers #PBMs followed by insurance companies and big PhrMa that makes this a feel good story in the first place
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Pharmacy-benefit managers, or #PBMs, have captured a growing slice of huge drug spending during past decade.
More than 30 million Americans, or about 10% of the country, have #diabetes, and more than 7 million of them require daily #insulin
Most expensive insulin in world has some diabetics rationing their insulin, a dangerous practice, due to high cost.
