In a rare show of bipartisanship, members of Congress from both sides of the aisle agreed that pharmacy benefit managers (PBMs) have too much power and provide too little transparency, during the second in a series of hearings on the role of PBMs in the healthcare industry.
“Instead of fierce competition, now just three PBMs control 80% of the market, and each of the three major PBMs is owned by a major health insurer and owns or is owned by a pharmacy,” committee Chair