Small Businesses Urge Congress to Push PBM Reform Over the Finish Line

Washington, D.C. (December 13, 2024)—As Congress scrambles to cobble together an end-of-year legislative package, reporting suggests policymakers are taking aim at Pharmacy Benefit Managers (PBMs). These are the middlemen of the drug supply chain that increase medicine costs for patients. If passed, the changes would be a win for patients and small businesses, which end up shouldering the higher prices.

Legislative provisions being floated include new supply chain transparency requirements and delinking PBM fees from the price of the drug when accessed through Medicare Part D. The status quo incentivizes middlemen to push more expensive medications onto patients because it translates to bigger profits—all behind a smoke screen.

Elaine Parker, President of the Job Creators Network Foundation, released the following statement:

“Drug prices are artificially high because of supply chain middlemen called Pharmacy Benefit Managers (PBMs). These entities inflate the cost of medicine to pad their own pockets—leaving patients and small businesses to foot the ever-increasing bill. Congress has an opportunity to begin addressing the middleman boondoggle in the end-of-year package. They should push the reforms over the finish line.”