(Washington, D.C.) — As part of its DrugBenefitSolutions.com campaign, the Pharmaceutical Care Management Association (PCMA) today released a new video, “What is drug price transparency?” explaining how transparency is widely used in the prescription drug marketplace for patients and employers, and highlighting that “the wrong kind” of transparency can “backfire” by reducing competition and resulting in higher drug prices.
Click here to watch the new video.
“The right kind of transparency is important for both patients and payers,” said PCMA President and CEO Mark Merritt. “But according to the Federal Trade Commission, the wrong kind of transparency would hurt consumers by giving drug companies inside information that could help them collude with their competitors and charge higher prices.”
As the new Administration and Congress explore ways to reduce prescription drug costs, PCMA recently launched a campaign highlighting how pharmacy benefit managers (PBMs) protect consumers, employers, and government programs from high drug prices.
The campaign’s website – DrugBenefitSolutions.com – is a platform explaining how PBMs reduce costs and how greater reliance on competition and PBM tools generate significant savings for public and private health care programs.