Letter to the Editor: PBMs put profits over patients

Published 1:40 pm Monday, December 16, 2024

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Dear Editor,

As a pharmacist, I’ve witnessed firsthand the growing impact of pharmacy benefit managers on patient care. These middlemen, who are responsible for negotiating drug prices with pharmaceutical manufacturers on behalf of insurance companies, have increasingly prioritized profits over patients. Their practices have led to a crisis that threatens access to essential medications.

Changes to the current pharmacy business model must happen so that your community does not become a pharmacy desert. The current dynamic is one where your prescription insurance is often preventing your pharmacy from continuing to provide care. The free market no longer exists in pharmacy because of three major players: the three largest PBMs. These billion dollar companies that don’t care for a single patient are controlling how your prescriptions are handled. They are merely pharmacy insurance middlemen that control what you pay as a patient, how many days’ supply you are allowed, where you get your prescription filled, what the pharmacy gets paid and essentially everything else about your prescription drug benefits.

Citizens have grown accustomed to the convenience of having both a grocery store and pharmacy just a few blocks away and especially their pharmacist being available to answer questions. Local pharmacists have been available and accessible for generations in these communities. Patients and consumers have all kinds of options these days, but when you need to talk to a healthcare professional about an urgent matter, your local pharmacist is there for you. Pharmacists are the first line of defense when you get sick even before going to the doctor. Pharmacists are also the last line of defense to make sure you get the right medication with the right information. Pharmacists are there to guarantee you are getting what the doctor ordered!

PBMs have been around for 40 years, but they have gotten deeply into my business and yours over the last 20 years. PBMs, which claim to save patients money, have actually made billions in profits, while drug prices in the U.S. are consistently higher than most other countries.

One of the most significant issues is the practice of low reimbursement rates. PBMs often negotiate razor-thin margins for pharmacies, forcing us to operate on increasingly tight budgets. This can lead to reduced staffing, limited hours and even closures, particularly in underserved communities. Patients in these areas may find it challenging to fill their prescriptions, leading to more doctor visits, hospitalizations or even death.

So, for our patients, we are asking that you talk with your elected senators and representatives and let them know that you don’t want to be limited when choosing a pharmacy. Let them know that you deserve the truth and you know that solutions can be found that properly pay pharmacies without increasing costs to patients and employers. By working together, we can ensure that pharmacies continue to provide essential services to their communities and that patients have access to the medications they need to maintain their health.

Jim Davis
Davis Drug