Almost two-third of the respondents to our survey were in favor of the trend of more state-level regulation of the pharmacy benefit management industry.
PBMs have come in for a lot of criticism, and an industry labeled a “middleman” isn’t going to garner a lot of popular support. But federal regulation of the PBM industry hasn’t gone very far. Increasingly, though, state legislatures and agencies are imposing new rules on PBMs. State regulation got a major legal boost in late 2020 when the Supreme Court ruled in Rutledge v. Pharmaceutical Care Management Association that Arkansas could impose requirements on PBMs.
“The bills filed or passed this year concern the licensing or registration of PBMs, requirements for more transparency in the drug supply chain, and protections for independent pharmacies, which have long complained that PBM practices force them into exploitative arrangements,” the Pew Charitable Trusts reported last year.
The clear majority of the respondents to our State of the Industry survey are in favor of the trend in state regulation.
Nearly two-thirds (65%) indicated that they were in favor of increased state oversight and regulation of PBMs. Ninety-one of the 100 respondents answered that question.
We also asked about specific state regulations. The results to those questions were not included in our print issue because of space constraints. They showed agreement with the many of the rules and regulations that have been proposed. For example, 73% of strongly or somewhat agreed with disclosure requirements on PBM indirect and direct revenue sources, and 57% agreed with bans on mandatory mail order.
Emerging Therapies Committee at UC Davis Hits the Accelerator Not the Brake | AMCP 2024
April 18th 2024After the onboarding of cell and gene therapy bogged using normal pharmacy and therapeutics (P&T) committee procedures, UC Davis Health set up an emerging therapeutics committee to streamline and speed up the process of delivery expensive cell and gene therapies.
Read More
DC Roundtable: Patrick Cooney of The Federal Group Drops the Latest on PBM Legislation in Washington
April 11th 2024In this episode of "DC Roundtable," Peter Wehrwein, managing editor of Managed Healthcare Executive, spoke with Patrick Cooney, president of The Federal Group, a lobbying and strategic planning firm in Washington, D.C., about recent developments in Washington concerning PBMs.
Listen
2024 Emerging Leaders in Healthcare — Submit For a Chance to Be Featured in MHE's August Issue
April 18th 2024MHE Editors are seeking diverse healthcare professionals from different backgrounds and healthcare sectors, with individual interests. Eligible candidates are early or mid-career leaders with less than 10 years of experience. Award winners will enjoy complimentary passes to the PBMI Annual National Meeting in Orlando, Florida, from Sept. 4-6. Additional perks include a feature in our August issue, a subscription to MHE and more!
Read More