Murphy Urges Congress to Take Action Against Pharmacy Benefit Managers
Washington, D.C. — Today, Congressman Greg Murphy, M.D. participated in a bipartisan, bicameral press conference urging Senate Majority Leader Chuck Schumer (D-NY) to take action on the abuses of Pharmacy Benefit Managers (PBMs) by passing the Lower Costs, More Transparency Act:
"For years, we have heard testimony from small business owners, physicians, and patients about unaffordable health care, opaque pricing practices, and an overly complex and burdensome system that creates barriers to care for Americans," said Congressman Greg Murphy, M.D. "At the center of these challenges are the middlemen in our health care industry who steer patients to their own vertically consolidated entities, siphon money from our independent pharmacies, and completely obscure the flow of the health care dollar in America. As the only practicing physician in Congress, I continue to witness the impact of these challenges firsthand."
"The Lower Costs, More Transparency Act, which has received bipartisan, bicameral support, directly addresses these concerns by making health care more affordable for patients and employers through increased transparency and competition. Unfortunately, Senate Majority Leader Chuck Schumer held it up for almost a year. This is unacceptable, and I will keep fighting until we get it signed into law."
Background
Pharmacy Benefit Managers operate as middlemen between drug manufacturers, insurance companies, and pharmacies, negotiating drug prices and determining which medications are covered by insurance plans.
PBMs prioritize profits over patients by encouraging higher-cost drugs, limiting consumer access to medications, monopolizing market control, and reimbursing independent pharmacies with unsustainable rates.
H.R. 5478, the Lower Costs, More Transparency Act would increase price transparency throughout the health care system, lower prescription drug costs, and support patients, health care workers, community health centers, and hospitals.
