Joseph Shields is Optimistic about PBM Reform Legislation | PBMI 2024
During an interview, Joseph Shields of TransparencyRx discusses the PBM legislation that is expected to move forward in Congress in the next few months.
Joseph Shields, managing director of TransparencyRx, provided insights into the ongoing efforts to reform pharmacy benefit managers (PBMs) and the broader healthcare market.
During an interview ahead of the annual meeting of the Pharmacy Benefit Management Institute, Shields said he was optimistic that PBM reform legislation reaching President Joseph R. Biden’s desk before the end of the end. He noted that recent actions in the House and Senate indicate a growing alignment on the need for comprehensive reforms that address issues such as market concentration, spread pricing models, and transparency.
Looking ahead, Shields expressed cautious optimism that meaningful PBM reform could be enacted before the end of the current Congressional session. He believes that such reform could not only improve transparency and competition in the healthcare market but also lead to significant federal savings, which could be redirected to other healthcare initiatives.
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