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ARA: CSRO Vice President Presents on PBMs and the Rebate System
Posted: May 15, 2017
The CSRO is pleased to report that CSRO Vice President Madeleine Feldman, MD, FACR, presented at the Arkansas Rheumatology Association, giving attendees an inside look at rising drug prices and the hidden rebate system controlled by pharmacy benefit managers (PBMs). In her presentation entitled “Exposing Rebate Systems,” Dr. Feldman explained the role PBMs play in the drug industry, emphasizing how they use their intermediary position to reap profits, often at the expense of patients. Dr. Feldman’s presentation focused particularly on the rebate system, under which manufacturers pay retroactive rebates to PBMs in exchange for favorable placement on their formularies. This system motivates PBMs to develop formularies based on how much profit they can earn from rebates and causes many patients to be denied coverage for their prescribed medication due to an unnecessary formulary restriction.
If your group is interested in learning more about PBMs and the rebate system or would like a CSRO Board Member to present a similar presentation at your state society’s annual meeting, please contact us.