With Americans drowning from healthcare costs associated with the failing Obamacare law, could taxpayers look forward to saving a few dollars by cutting out the middle man when it comes to purchasing prescription drugs?
In today’s soupy world of healthcare, there is one acronym that can unnecessarily cost patients more money: Pharmacy Benefits Managers or PBMs.
These middlemen can end up costing patients more money for prescriptions than expected.
By restricting pharmacy networks, these PBMs are effectively restricting patient choice and the ability for free markets to set prices.
“Physicians and patients have lost control over prescriptions because of what are known as Pharmacy Benefit Managers, or PBMs,” said Dr. Robert Levin, president of the Florida Society of Rheumatology.
“The PBMs ‘preferred’ drug may not be the best one from a safety and effectiveness standpoint, but current law makes it extremely difficult for physicians to bypass the preferred drug.”-Dr. Robert Levin, president of the Florida Society of Rheumatology
Watch the video for a more in-depth and clearer explanation of how PBM’s could cost taxpayers more money.