The high cost of prescription drugs has been an issue on the minds of many Americans for years. Now, Congress is beginning to investigate a previously under-the-radar culprit behind the sky-high prices, Pharmacy benefit managers (PBMs). Essentially, PBMs are middlemen who negotiate between insurance plans and drug companies. Due to a series of perverse incentives in the current pharmaceutical ecosystem, these companies can pocket huge profits while keeping drug costs artificially high for millions of Americans.
Read Full Article »
