New York Times Exposes PBMs

The New York Times just blew the cover off of the prescription drug middlemen inflating the cost of your medicine. Their new expose, “The Opaque Industry Secretly Inflating Prices” is making huge waves across the patient and health care community, and it could lead to real change.

“The job of the PBM is to reduce drug costs. Instead, they frequently do the opposite,” the Times reports. “They steer patients toward pricier drugs, charge steep markups on what would otherwise be inexpensive medicines and extract billions of dollars in hidden fees, a New York Times investigation found.”

The investigation found PBMs:

• Control what patients pay for their prescriptions

• Drive up drug prices

• Push higher-priced medicines

• Get rich – swiping $7.6 billion in fees in 2022 alone

• Push patients to their own pharmacies

• Engage in anti-competitive practices, and so much more.

It’s a report you’ve got to read to believe.

Patients have had enough. We’ve been sounding the alarm about PBMs for years. We’re glad the press and policymakers are finally listening!