Pharmacists Fight Back Act | PBM Reform Podcast

Episode 2086 of the Pharmacy Podcast Network podcast, hosted by Pharmacy Podcast Network, titled "Pharmacists Fight Back Act | PBM Reform Podcast" was published on October 8, 2024 and runs 42 minutes.

October 8, 2024 ·42m · Pharmacy Podcast Network

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Summary

In this special episode, we discuss the Pharmacists Fight Back Act and explore Ohio's pivotal role in advancing PBM reform. Join us for a compelling discussion with three distinguished pharmacy leaders: David Burke, Executive Director of the Ohio Pharmacists Association; Mark Kinney, Executive Vice President of Government Relations at the Independent Pharmacy Cooperative (IPC); and Antonio Ciaccia, CEO of 46brooklyn Research & 3Axis Advisors, our resident expert on PBM data. Legislative Spotlight: U.S. Representatives Jake Auchincloss (D, MA-04) and Diana Harshbarger (R, TN-01) have introduced the Pharmacists Fight Back Act to combat the detrimental practices of pharmacy benefit managers (PBMs), the intermediaries responsible for escalating drug prices, undermining community pharmacies, and restricting patient options in federal healthcare plans. This bipartisan bill represents the most comprehensive federal reform targeting PBMs to date. Key Provisions of the Act: Establishes a transparent pharmacy reimbursement model based on market pricing, aligned with the National Average Drug Acquisition Cost (NADAC) plus a state-specific dispensing fee, capped at either 2% or $25. Eliminates PBM-imposed restrictions on patient choice through network exclusions. Safeguards community pharmacists by banning PBM practices that steer patients to their own affiliated pharmacies. The scrutiny on PBMs is intensifying, as communities nationwide face pharmacy shortages, hindering access to care and driving up health plan premiums and out-of-pocket drug costs. With recent developments, including a House Committee on Oversight & Accountability report, hearings featuring leaders from the three largest PBMs led by Representative James Comer (R, KY-01), and the potential for a lawsuit from the Federal Trade Commission, the urgency for Congressional action has never been greater. Tune in to learn how we can advocate for meaningful change! Guests: David BurkeExecutive DirectorOhio Pharmacists Associationdburke at ohiopharmacists dot org Mark KinneyExecutive Vice President of Government RelationsIndependent Pharmacy Cooperativemark.kinney at ipcrx dot com Antonio CiacciaChief Executive Officer 46brooklyn Research

Episode Description

Establishes a transparent pharmacy reimbursement model based on market pricing, aligned with the National Average Drug Acquisition Cost (NADAC) plus a state-specific dispensing fee, capped at either 2% or $25.
Eliminates PBM-imposed restrictions on patient choice through network exclusions.
Safeguards community pharmacists by banning PBM practices that steer patients to their own affiliated pharmacies.

The scrutiny on PBMs is intensifying, as communities nationwide face pharmacy shortages, hindering access to care and driving up health plan premiums and out-of-pocket drug costs. With recent developments, including a House Committee on Oversight & Accountability report, hearings featuring leaders from the three largest PBMs led by Representative James Comer (R, KY-01), and the potential for a lawsuit from the Federal Trade Commission, the urgency for Congressional action has never been greater. Tune in to learn how we can advocate for meaningful change! Guests: David Burke Executive Director Ohio Pharmacists Association dburke at ohiopharmacists dot org Mark Kinney Executive Vice President of Government Relations Independent Pharmacy Cooperative mark.kinney at ipcrx dot com Antonio Ciaccia Chief Executive Officer 46brooklyn Research