Pharmacy Benefit Managers
Mark Blum with the PBM Accountability Project explains the role of Pharmacy Benefit Managers and their ability to control drug costs.
Nearly 1 in 4 Americans say it’s difficult to afford their prescription medications, according to a poll by the Kaiser Family Foundation. Consumers pay more than they should be, due to the business practices of little-known companies called Pharmacy Benefit Managers (PBMs). PBMs act as middlemen between drug manufacturers and patients’ health plans, helping to control drug costs and accessibility. But they fail to pass much of the savings to the patients and insurance companies. This drives up the cost of prescription drugs, leaving you to pay more out of pocket.
The PBM Accountability Project brings together leaders and stakeholders across healthcare, labor, business, pharmacy, and consumer patient advocacy to help ensure that patients or our private and public sector health plans aren’t overpaying for the prescription medicines we need.
One of those members is Mark Blum, Executive Director of America’s Agenda: Health Care for All. He also serves as Managing Director of America’s Agenda Healthcare Education Fund. Blum is a recognized expert on innovative solutions to address the rising cost of healthcare. He currently serves on the State Health Benefits Value and Quality Task Force in New Jersey. He has also served as a special advisor on hospital finances to the leadership of the California legislature.