(By Arthur Allen for KFF Health News)
The Biden administration’s first major step toward imposing limits on the pharmacy benefit managers who act as the drug industry’s price negotiators is backfiring, pharmacists say. Instead, it’s adding to the woes of the independent drugstores it was partly designed to help.
The so-called PBMs have long clawed back a fee from pharmacies weeks or months after they dispense a drug. A new rule, which governs Medicare’s drug program, is set to take effect Jan. 1 and requires PBMs to take most of their “performance fees” at the time prescriptions are filled. Continue reading here…
Kaiser Health News is a nonprofit national health policy news service that is part of the nonpartisan Henry J Kaiser Family Foundation.
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