TAPP Urges Committee on Oversight and Accountability to Support PBM Reforms

The Trade Alliance to Promote Prosperity supports reforms that hold pharmacy benefits managers (PBMs) accountable, provide relief to patients, and promote market competition.

TAPP calls for PBM reforms that do the following:

  • Base PBM fees on the service they provide instead of the price of medicines. This would preserve their ability to negotiate fees with manufacturers and other stakeholders while aligning incentives toward providing lower prices to patients.

  • Target the root cause of anti-competitive behaviors that have helped make vertical integration so profitable for PBMs. An example of this behavior is PBMs preferring higher-cost medicines and directing patients to PBM-owned pharmacies.

  • Improve cost-sharing assistance by ending PBM schemes that make it harder for patients to afford their medicines while allowing PBMs and insurers to pad their bottom line.

These reforms would lower the price of medicines, increase market competition, and maintain America’s spot as the world’s strongest healthcare economy. As Congress is considering legislation to reform PBMs, TAPP urges lawmakers to enact meaningful legislation to improve accountability, transparency, and patient affordability.

Ainsley Shea