National LTC Pharmacy Group Praises SFC Momentum on PBM Rebate Transparency
Washington, DC — Commenting on what appears to be developing momentum within the Senate Finance Committee for increased examination of pharmacy benefit manager (PBM) “rebate” transparency, the Senior Care Pharmacy Coalition (SCPC) today praised Chairman Charles Grassley’s (R-IA) reported positive sentiment regarding Ranking Member Ron Wyden’s (D-OR) “Creating Transparency to Have Drug Rebates Unlocked Act.”
Wyden’s bill, referred to as the “C-Thru Act,” would require PBMs to publicly disclose aggregate rebates they receive from drug makers and what percentage actually goes to Medicare beneficiaries. The bill would later require a minimum percentage of rebates be passed from PBMs to health plans and would base beneficiary cost-sharing in Medicare Part D on net prices.
Grassley said he plans to discuss Wyden’s C-THRU Act this session with the committee, a spokesman for the senator recently told Inside Health Policy. “Chairman Grassley has said PBMs lack transparency and how they work is too much of a mystery. Chairman Grassley agrees with many of the goals in Ranking Member Wyden’s legislation and will discuss it further within committee,” the Grassley spokesman said.
“SCPC is strongly supportive of bipartisan efforts to examine and reform the secretive, opaque PBM rebate system. Consistent with his longstanding commitment to transparency and oversight, we are encouraged by Chairman Grassley’s positive sentiment about further Committee discussion of C-Thru,” stated Alan G. Rosenbloom, President and CEO of SCPC, the only federal advocacy organization devoted exclusively to the interests of the nation’s long-term care (LTC) pharmacies and the patients they serve.
Rosenbloom also positively noted that Sen. John Cornyn (R-TX), another Senate Finance Committee member, recently announced on Twitter that a future topic of investigation for the committee would be abuses of the rebate system by PBMs.
The Senior Care Pharmacy Coalition (SCPC) is the only national organization exclusively representing the interests of LTC pharmacies. Its members operate in all 50 states and serve 825,000 patients daily in skilled nursing and assisted living facilities across the country. Visit seniorcarepharmacies.org to learn more.
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Check out SCPC CEO Alan Rosenbloom on the Pharmacy Podcast Network’s “PBM Reform Podcast”
SCPC President and CEO Alan Rosenbloom speaks with the Pharmacy Podcast Network about the impact of the Pharmacy Benefit Manager Transparency Act of 2022 on the Pharmacy Profession. He is joined by Michael Baxter, Senior Director of Regulatory Policy at APhA and Todd Eury with the Pharmacy Podcast Network. Listen here.
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