1 week Ago
BESSEMER, Ala. , Nov. 15, 2024 /PRNewswire/ -- On the heels of last week's election, American Pharmacy Cooperative, Inc.
(APCI) hosted a bipartisan discussion in support of the Pharmacists Fight Back Act (H.R. 9096), educating policymakers and congressional staffers on the importance of reining in abusive practices of large PBMs and the critical role independent pharmacies play in America's healthcare system.
The event, held Wednesday in Washington, D.C. , featured remarks and analysis from Democrat Representative Jake Auchincloss (MA-04) and Republican Representative James Comer (KY-01), in addition to a diverse range of pharmacy experts and health care practitioners.
The Pharmacists Fight Back Act , which now has more than 40 co-sponsors in the U.S. House of Representatives, is a blueprint for ending the anti-competitive practices of large PBMs undercutting patient access to affordable medication and independent pharmacies.
The bill is the only legislation which ends predatory practices in Medicare and other federal programs and features the strongest penalties against PBMs when they break the law. Additionally, the Pharmacists Fight Back Act caps drug costs for patients and also protects patient's choice of providers. "There isn't another issue in the nation uniting Republicans and Democrats like pharmacy benefit manager reform," stated Rep.
Comer, who as Chair of the House Oversight Committee is continuing investigations into the nation's largest PBMs. "Truthfully, though, simple reporting requirements won't be enough. We need to tackle misaligned incentives and the financial interests that have broken patients, pharmacies, and health care alike.
The Pharmacists Fight Back Act does that." "When an independent pharmacist goes bankrupt, it's not just that independent pharmacist that goes out of business, an entire downtown ecosystem I think is undermined," added Rep. Auchincloss.
"Independent pharmacists are threads that tie together civic cohesion, and patients at their counter shouldn't pay a co-pay at the pharmacy counter that is predicated on some made up list price from a health insurance company." "If you're spending more and getting less, and if patients can't access necessary and prescribed medicine that has literally been on the market for decades, someone must have a grip on the patients' pocketbooks," said Marion Mass , MD, co-founder of Practicing Physicians of America and Leadership in Free2Care Coalition. "Independent pharmacies are closing in droves," said Emma Freer , Senior Policy Analyst for the American Economic Liberties Project.
"That leaves patients with less care. It leaves communities with less options." Monique Whitney , Executive Director of Pharmacists United for Truth and Transparency, stated, "This bill is the most important legislation that we've seen.
It addresses the root issue...
and it's why we have jumped on so quickly, because we want to stop the closures." "This bill is about empowering and ensuring patients have choice and access to Main Street pharmacies, today and in the future," said APCI CEO Tim Hamrick . "APCI was honored to host two Congressional champions and an expert panel, all who have identified the Pharmacists Fight Back Act as the reform that is needed to put a stop to middlemen and insurance abuses and profiteering.
" About APCI APCI is a member-owned cooperative of independently-owned community pharmacies in 31 states. Established in 1984 and headquartered in Bessemer, Ala. , APCI is recognized as a leader in the fight for prescription drug pricing transparency and reform.
SOURCE American Pharmacy Cooperative, Inc..
