Rosenbloom: No More Exploitation of Seniors, Taxpayers by PBMs
Published by Health Economics
Pharmacy benefit managers have long enough taken advantage seniors and taxpayers in the U.S. through strategies that exploit Medicare, Senior Care Pharmacy Coalition President/CEO Alan Rosenbloom writes in a recent article published on McKnight’s.
High costs under Medicare Part D, Rosenbloom writes, has facilitated an “anti-competitive oligopoly,” filling the pockets of conglomerates whose tendrils span across inter-related markets, including private insurers, pharmacy benefit managers and pharma chains.
“In fact, only three such conglomerates dominate the PBM market and chain pharmacies in the retail, mail order, specialty and LTC pharmacy markets, while increasingly controlling predominant Part D Plans,” Rosenbloom writes.
According to Rosenbloom, three PBMs connected to the conglomerates process some 90 percent of the prescriptions for LTC pharmacies.
“This market concentration … is stifling competition and driving up health care costs for seniors and taxpayers alike,” he writes.
Click here to see the original article on the Health Economics website.
Recent Posts
-
Senior Care Pharmacy Coalition and ATI Advisory Share New Analysis of Medicare Beneficiaries Demonstrating Common Long-Term Care Needs Across Settings
The Senior Care Pharmacy Coalition (SCPC) and ATI Advisory (ATI) have released a new analysis finding that 75% of Medicare beneficiaries who need long-term care (LTC) live in the community, while only 25% live in nursing homes or assisted living communities. Nearly 60% of the community-dwelling population with LTC needs also have four or more chronic conditions and fill 10 or more prescription medications a year.
-
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 the importance of advocating for PBM reform, the status of the LTC Pharmacy Definition Act, LTC Pharmacy at-home, drug pricing legislation and its implications for LTC Pharmacy, and more.
-
SCPC Applauds House Oversight and Accountability Committee Chair James Comer for Launching Investigation into PBM Practices
The Senior Care Pharmacy Coalition (SCPC), the only Washington-based organization exclusively representing the interests of long-term care (LTC) pharmacies, applauds House Committee on Oversight and Accountability Chairman James Comer (R-KY) for launching an investigation into pharmacy benefit managers (PBMs) and their tactics that are harming patient care and increasing costs for many patients.
Stay in the Know
Get the latest news and updates on issues impacting the long-term pharmacy community.