Summary
In this episode, Dr. Na-Ri Oh and Ian Wendt discuss Pharmacy Benefit Managers (PBMs) and their impact on drug pricing and patient access to medications.
They are joined by Antonio Ciaccia, CEO of 46 Brooklyn Research and president of 3 Access Advisors, which provides insights into the role of PBMs in the drug supply chain.
The conversation highlights the consolidation of power among the top three PBMs, their anti-competitive behaviors, and the need for increased scrutiny and regulatory measures. The discussion also explores the distorted incentive structures that favor high-cost drugs over lower-cost alternatives, leading to higher drug costs and limited access for patients.
The conversation explores the impact of pharmacy benefit managers (PBMs) on drug costs and access to medications. The report states that PBMs control about 70% of all specialty drug revenue, leading to the closure of independent retail pharmacies in rural areas. The conversation emphasizes the need for transparency and accountability in the PBM industry.
It also discusses the potential solutions, including market-based approaches and policy changes, to address the inefficiencies and anti-competitive behaviors of PBMs.
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