The Senior Care Pharmacy Coalition (SCPC), the leading national voice for the long-term care pharmacy community, released a statement today in response to The New York Times article on the negative influence that pharmacy benefit managers (PBMs) have on the rising cost of healthcare.

“The New York Times investigation into the opaque, anticompetitive practices of pharmacy benefit managers (PBMs) underscores the urgent need for PBM reform. It’s past time to rein in PBMs’ profit-driven practices that are harming patients, providers and taxpayers,” said Alan Rosenbloom, President and CEO of SCPC. “This is a heightened issue for the long-term care pharmacy community, as PBM market consolidation is worse among long-term care pharmacies and because of our patients’ heavy reliance on Medicare Part D. The big three PBMs account for more than 80 percent of the prescription drug market. Without increased transparency and accountability, mega health-insurers and their PBM counterparts will continue to vertically integrate, putting long-term care pharmacies, the patients we serve, and our overall healthcare system at risk. Congress must act quickly to hold PBMs accountable and pass meaningful reform that results in true cost savings and increased access to care.”