(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott released the following statement on the Senate Health, Education, Labor, and Pensions Committee hearing on the Lower Health Care Costs Act:
“We commend the Committee for examining important issues related to reducing health care costs, including prescription drug costs, and appreciate the draft legislation’s provisions intended to increase competition among drug manufacturers. America’s pharmacy benefit managers (PBMs) support efforts to get more therapeutic alternatives for patients into the market to provide better options for more affordable care.
PBMs also support greater transparency across the supply chain, including transparency that empowers patients, prescribers, clients, and policymakers to make informed decisions that lead to optimal health outcomes and lower costs. PBMs already provide patients and physicians with real-time electronic tools to determine formulary coverage and cost-sharing at the point of prescribing.
We are concerned that some provisions in the draft legislation would not reduce prescription drug costs but would instead give drug companies access to information that would empower them to raise costs. We are also concerned that provisions of the bill would enmesh Congress into private-sector contracting, taking away choice from employers and other private-sector health plan sponsors on how to best design health benefits for their enrollees. These provisions do not address prescription drug costs and are likely to increase them.
As the Committee continues its work, addressing drug manufacturers’ high list prices should be a top priority.”