Arizona Capital Times Op-Ed - Legislature should evaluate influence of PBMs
https://azcapitoltimes.com/news/2024/01/24/legislature-should-evaluate-influence-of-pbms/
Legislature should evaluate influence of PBMs
By Joy Schechtman //January 24, 2024
Having read Helen Everett’s recent commentary on the importance of affordable medications, I feel compelled to express my concerns regarding the role of pharmacy benefit managers (PBMs) in driving up drug prices and creating unnecessary obstacles between patients and physicians.
While Ms. Everett lauds the efforts of PBMs, I find it imperative to shed light on the darker side of their operations. As a practicing physician, I witness firsthand how PBMs, in their supposed quest to negotiate lower costs, often contribute to the complexities of drug pricing structures that result in increased financial burdens on patients.
The claim that PBMs go “head-to-head” with drug manufacturers to lower costs seems misleading, as the negotiation process itself can be a contributing factor to rising drug prices. Rather than acting as advocates for patients, PBMs often stand as intermediaries that prioritize their own interests, leading to a system where patients pay the price, both literally and figuratively.
Ms. Everett points out the exorbitant list prices set by big drug companies, but it is essential to critically examine how PBMs may inadvertently exacerbate this issue. Transparency and accountability in ensuring that negotiated savings benefit patients are sorely lacking, raising questions about the true impact of PBMs on lowering medication costs.
The legislation under consideration by the Arizona Legislature, which Ms. Everett is concerned about, may be a necessary step in dismantling the barriers created by PBMs. Restricting employers from guiding patients to more affordable prescriptions should be scrutinized, but it is equally important to question the role of PBMs in preventing a more direct relationship between patients and physicians.
As healthcare professionals, our focus should be on dismantling unnecessary barriers between patients and their prescribed treatments. I implore the Arizona Legislature to critically evaluate the influence of PBMs, with the ultimate goal of prioritizing the well-being of patients over the profit-driven motives of intermediaries.
Joy Schechtman DO, is a practicing rheumatologist in Phoenix, and a supporter of the Alliance for Transparent and Affordable Prescriptions