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Pharmacy benefit managers (PBMs) are in the crosshairs of Republicans and Democrats in Congress but have so far dodged any new litigation or reforms that had been targeted for inclusion in last ...
PBMs have used various strategies over the years to squeeze independent pharmacies, and these tactics are on the rise as the federal government takes aim at reigning in the notorious middlemen.
(The Center Square) – Legislators in Washington, D.C., have taken a number of steps over the past few days to push for insurance and pharmaceutical reforms to be passed before the end of the year.
As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024. [6]
The original company, called MedPartners Inc., was founded as a physician and pharmacy benefits management company in 1993. [1] It was founded in Birmingham, Alabama by former HealthSouth Corporation chief executive Richard Scrushy. [1]
Patents on pharmaceuticals have also been a particular focus of criticism, as the high prices they enable puts life-saving drugs out of reach of many people. [7] Alternatives to patents have been proposed, such as Joseph Stiglitz 's suggestion of providing "prize money" (from a "prize fund" sponsored by the government) as a substitute for the ...
A bipartisan, bicameral group of lawmakers is calling on the Federal Trade Commission (FTC) to vote in favor of releasing an interim staff report on pharmacy benefit managers (PBM). Sens.
It's unclear if there will be any meaningful regulatory changes that will impact UnitedHealth's business, but the bad press and general backlash could lead some customers to reconsider using the ...