WASHINGTON, DC - Energy and Commerce Committee leaders today sent letters to various Pharmacy Benefit Managers (PBMs) to better understand the role of PBMs in the drug supply chain.
The letters were signed by Energy and Commerce Committee Chairman Greg Walden (R-OR), Health Subcommittee Chairman Michael C. Burgess, M.D. (R-TX), and Oversight and Investigations Subcommittee Chairman Gregg Harper (R-MS).
“Today, PBMs manage prescription drug benefits on behalf of a wide array of entities - employer-sponsored health plans, health maintenance organizations, Medicaid managed care plans, and Medicare Part D plans," wrote Walden, Burgess, and Harper. “In fact, a February 2016 report estimated PBMs serve 266 million Americans-most of whom are enrolled in private health plans-and can save plan sponsors significant money on drug benefit costs using a wide range of tools. This study also estimated that the use of these tools will save a total of $654 billion across plan sponsors and members, Medicare Part D and its beneficiaries, and managed Medicaid plans."
The leaders continued, “Based on the testimony we received in our hearings and an ongoing examination across the drug supply chain, we request your assistance in order to better understand the relationship of a drug’s list price with the price negotiated and the different incentives that are offered to encourage reductions in list price."
