The COVID-19 crisis has provided policymakers with an opportunity to examine public policy and make recommendations for the future. One of the hot spots of discussion in the last legislative session was over whether to add more regulations to pharmacy benefit managers. In the process of that discussion, many in the legislative arena tried to make them out to be the bad guys.
Nothing could be farther from the truth, and what we believe the COVID crisis will show is just how much they do for both consumers and taxpayers in guaranteeing affordable access to quality healthcare.
Over 200 million Americans have their medicine benefits managed through a pharmacy benefit manager, saving us approximately 25 percent on the cost of prescription drugs. They are one of the only entities in the drug supply chain dedicated to lowering the cost and increasing access to quality medicines.
The skyrocketing list price of prescription drugs has challenged patients’ access to these medications, but government had their way in the last legislative session, intervention with PBMs would only have limited choices and increased patient costs with unnecessary rules and duplicative regulations.
COVID-19 has delivered a punch in the gut to our economy and to our tax revenue collections. As lawmakers strive to find ways to make up shortfalls and continue to guarantee health services for all, they will find that pharmacy benefit managers are a strong ally in bringing better health outcomes to all Floridians.
Regina Brown is the Director and Founder of Transforming Florida, a coalition of believers committed to transforming our culture through, prayer, biblical truth & community involvement.