Congress: PBMs Harm Pharmacies and Patients | Antonio Ciaccia, Luke Slindee, & Benjamin Jolley
Description
In this episode of "The Business of Pharmacy Podcast," host Mike Koelzer is joined by industry experts Antonio Ciaccia, Benjamin Jolley, and Luke Slindee to discuss the complex world of Pharmacy Benefit Managers (PBMs). Antonio Ciaccia, president of Three Axis Advisors, Benjamin Jolley, pharmacist and Senior Fellow at the American Economic Liberties Project, and Luke Slindee, a second-generation pharmacist, bring their insights into the conversation.
The discussion kicks off with the upcoming congressional hearing where the CEOs of the three largest PBMs will testify. Antonio explains the significant influence PBMs have on drug pricing and the lack of transparency in their operations. Mike probes into the potential stonewalling tactics PBM executives might use during their testimonies.
The guests emphasize the need for Congress to ask pointed questions to reveal the true nature of PBM practices, particularly their role in price discrimination and handling rebates. They also discuss the challenges independent pharmacies face due to PBMs' market power, highlighting the disparities in drug pricing and its impact on pharmacies and patients.
Tune in to this episode for a deeper understanding of the complex dynamics in the world of PBMs and what the future might hold for pharmacy pricing and policy.
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