Regulating Pharmacy Benefit Managers: A Debate on Systemic Flaws vs. Individual Accountability
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Title: Blame The Game Or The Players? Regulating Pharmacy Benefit Managers
The recent spotlight on pharmacy benefit managers (PBMs) has sparked a heated debate about whether to blame the issue on the game or the players. Critics argue that PBMs are intentionally manipulating the system to their advantage, while proponents suggest that the problem lies in the rules of the game itself.
Ge Bai, professor of accounting and health policy at Johns Hopkins University, argues that it is essential to recognize the root cause of the issues plaguing the pharmaceutical industry. According to Bai, the real culprit behind rising drug prices and increasing patient cost-sharing is not the players but rather the flawed system in which they operate.
It is crucial to acknowledge the role played by pharmacy benefit managers in shaping the market. By controlling formularies, PBMs have a significant impact on the demand for certain drugs. As such, it is essential that we focus on addressing these structural issues within the game itself.
In conclusion, it would be more effective and productive to aim at reforming the system rather than placing blame on individual players
Source: http://www.forbes.com
