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PUTT TO CONGRESS: IMMEDIATE PBM REFORM IS CRITICAL TO PROTECTING PATIENT ACCESS TO MEDICAL CARE

“Every day that passes without PBM reform is a day a community in America risks losing access to a pharmacy, its most readily available healthcare provider.”

With the federal government's budget on the line, we can think of no better way to restore revenue than to make it impossible for Fortune 15 PBMs to continue profiteering at the people’s expense.””
— PUTT Executive Board
PHOENIX, AZ, UNITED STATES, February 27, 2024 /EINPresswire.com/ -- The Executive Board of Directors of Pharmacists United for Truth and Transparency (PUTT) issued the following statement after Congress’ decision to eliminate pharmacy benefit manager (PBM) reform provisions from the most recent budget negotiations:

“While we understand how conflicting political agendas and the looming crisis of a potential government shutdown would make it seem unnecessary to include in federal budget negotiations provisions for reforming certain PBM business practices, we urge Congress to reconsider and restore PBM reform legislation to the proposed funding package.

“We cannot understate the urgency or the need to enact immediate PBM reforms. Patients and their pharmacies have waited in good faith for years for Congress to take action against thousands of well-documented examples of the ways PBMs game the system for their own profit at the expense of the chronically ill, taxpayers and providers.

“We speak plainly and without hyperbole when we say community pharmacies are collectively reaching a breaking point. Numerous small business pharmacies are running out of time and will be forced to permanently close their doors if relief is not forthcoming soon. Every day that passes without PBM reform legislation is a day a community in America risks losing access to a pharmacy, its most readily available healthcare provider.

“We are grateful to Congress and recognize our Senators and Representatives for championing the cause of ending price gouging, rebate retention, information asymmetry and other practices that flout the power PBMs have over patients, pharmacies, drug manufacturers and taxpayers. With the federal government's budget on the line, we can think of no better way to restore crucial revenue than to make it impossible for Fortune 15 PBMs to continue profiteering at the people’s expense.”

For more information on how PBM practices affect patient care and affordability of medication for consumers and end payers, visit PUTT’s website at TruthRx.org.

Monique Whitney
Pharmacists United for Truth and Transparency
Monique@TruthRx.org
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