Pharmacists gather to report on problems with pharmacy benefit managers
Dozens of Oregon pharmacies closed at once when all the Bi-Mart stores got out of the prescription drug business. Not long after that, the Oregon State Pharmacy Association ordered a report on the effects of pharmacy benefit managers (PBMs) on the medication marketplace.
PBMs occupy a space between insurer and pharmacy, and the OSPA report found great variations in their reimbursement practices, with big charges going to Medicare and Medicaid in some cases.
Antonia Ciaccia, an analyst who's been around pharmacies his entire life, visits with details of the report.