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Susan Wild: “PBMs have greater purchasing power, right? And because…”

Featuring: Susan Wild, Democratic | Former U.S. House, Pennsylvania, District 7

Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’

Published June 30, 2023 | Video Starts at 02:39

And that just really concerns me. And I'm trying to figure out. So based on your answers, PBMs have greater purchasing power, right? And because that's because they have so many. Some pharmacies have greater purchasing power than others and it depends on the relationship with the wholesaler and the pharmacy services administrative organization, the PSAO. That represents about 83% of independent pharmacies. (02:39–03:38)

CLAIM

Asserts that PBMs have greater purchasing power due to their size.

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Susan Wild

“There's been a lot of discussion for decades now about pharmaceutical prices generally, but recently the even more common subject of…”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 00:00-01:30
“Adderall's been written about in all the major newspapers.”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 00:00-01:30
“I just looked online, there's a list of hundreds of medications that are apparently in short supply.”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 00:00-01:30
“They find that when they go to the local pharmacy with their script and the pharmacy says, I'm sorry, we're out of that medication, we're…”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 00:00-01:30
“They are then advised by their insurance company that if they get their medications by mail order, they will likely be able to fill it.”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 00:00-01:30
“Optumrx, I believe, is the PBM for UnitedHealthcare CV's, I think is affiliated with either Aetna or Cigna.”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 00:00-01:30
“Small, local, independent pharmacies are almost a thing of the past. I can tell you that in my district, many of them have closed.”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 02:39-03:38
“The Consolidated Appropriations act of 2021, which we passed last year, I was proud to vote for it, indicates that pharmacy benefit managers…”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 04:10-04:48
“Do you believe that PBMs provide plan fiduciaries, meaning somebody within the employer with enough information to ensure that the…”
Wild Presses Witness On Medicine Shortages: ‘Why Can PBMs Fill Scripts When Local Pharmacies Can’t?’ | Uploaded June 30, 2023 | 04:10-04:48