PBM reform will reduce costs and benefit rural patients

Iowa’s local pharmacists are trusted and accessible health care providers, especially in our rural communities. Unfortunately, last year Iowa lost nearly 30 local pharmacies, and since 2014 we’ve lost over 200. These losses are especially hard for our rural communities where pharmacists are often the most accessible health care professionals.

A key reason for the decline of pharmacies is the unchecked power of Pharmacy Benefit Managers (PBMs) — profit-driven middlemen who have been allowed to operate with minimal oversight or regulation. Today just three of these large companies, ExpressScripts, OptumRx, and CVS, control nearly 80% of Americans’ prescription drug benefits. Their monopolistic control of the prescription drug supply chain has forced local pharmacies to cut back on staff, and even close their doors, ultimately leading to access issues and increased patient costs.

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