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New York report slams PBM practices

by NCPA | Jun 04, 2019

The New York Senate Committee on Investigations and Government Operations completed an investigation into PBM practices and their impact on rising drug prices and declining patient access. The committee found that "the consolidation and vertical integration of PBMs has contributed to skyrocketing list prices and declining patient access" and "PBMs often employ controversial utilization and management tools to generate revenue for themselves in a way that is detrimental to health plan sponsors, patients, and pharmacies." The committee concluded that a lack of transparency, oversight, and accountability enables PBMs "to engage in anticompetitive practices at the detriment of consumers and pharmacists across New York State," and recommended action for the legislature to take.

To better understand how PBMs affect independent and community pharmacies, the committee made multiple site visits to pharmacies and relied on input from the Pharmacists Society of the State of New York.