With the prices of many drugs seeming to only grow higher and out of reach, there is an unseen middleman that's playing an increasingly important role: Pharmacy Benefit Mangers or PBMs.
PBMs work in the background to negotiate deals with pharmaceutical and insurance companies. Ideally, they make drug prices lower for customers.
But some claim PBMs are cornering the market, causing higher prices in some cases, and even getting in the way of drug delivery causing deadly delays.
Sunday on Full Measure, I'll delve into the controversy and we'll hear from both sides.
Also, we continue reporting on how the green energy transition is leading to an energy crisis. It's not just in Europe but also in the U.S.
Lisa Fletcher will explain how it could make for a cold hard winter with outrages and blackouts for some.
And we'll take a scenic trip to Amish country to see a tradition that comes into play big time for selling goods or fundraising for charities.
We never waste your time rehashing the same news you've heard all week. Find out how to watch on TV, online or on demand by clicking this link: How to Watch Full Measure
Last year I paid approximately $2,800 in January, then about $300+ in February and March for my Copaxone medication. I get 1 box of shots for 3X’s a week for 1 month. Teva Pharm is the maker. If I’m lucky I can receive a grant from a non-profit organization that helps patients on Medicare with their co-pays. I start making calls in early December until the fund accepts patients. Last year I called every day for over a month. Where is this PBM for someone like me? Do the represent Medicare? Or just private insurance companies? Thank you Sheryl for adding light to this crazy process. I keep hearing from every administration that “we are lowering drug prices!” Seriously! I’m not even sure if Copaxone is still $2,800 it may have increased this yr.
Sharyl,
You need to find out why PBM’s created Group Purchasing Organizations(GPO’s). It’s a convenient “shell game” that PBM’s used to keep from sharing the rebate’s with patients(consumers).
You may want to dig into the “inflation reduction act” effects on Medicare drug pricing, & rebates to PBM’s. It is going to prevent patients from getting the best drug for their needs, strictly a generic option!
PBM’s/GPO’s owned buy large pharmacy buying groups (CVS, ESI, Optim) have all created GPO’s.