More Transparency Needed in Health Care, House Members Told

— Lack of data from hospitals, PBMs in the spotlight at hearing

“The idea that (traditional) PBMs promote generic drug use “is a falsehood,” Greg B. said. “You can look at any traditional PBM formulary that’s publicly available online and consistently see where brand-name drugs are put in place on the formulary over generic drugs. And when you consider the fact that of the 160-[million]-plus Americans who take private insurance, that 55% of those people have a coinsurance or a high deductible plan, that means they are subject to a higher cost at the pharmacy counter. That is not acceptable in our opinion.”


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