COA to Participate in Congressional Forum on Pharmacy Benefit Manager (PBM) Pricing

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Executive Director Ted Okon will testify before Congress on PBM abuses of patients with cancer and how they fuel drug costs

WASHINGTON, D.C., UNITED STATES, November 17, 2021 /EINPresswire.com/ — Today, COA’s Executive Director Ted Okon is testifying alongside pharmacists and physicians before members of the House Committee on Oversight and Reform on the impact of PBMs on prescription drugs. The forum, hosted by the Committee’s Ranking Member James Comer (R-KY), will review the role that PBMs play and their disproportionate influence over the treatment of patients with cancer, as well as drug pricing and patient cost sharing.

For several years, COA has reported on the suffering caused by PBMs. Patients have told stories of delayed delivery of critical cancer drugs, denied coverage, and PBMs arguing with physicians and pharmacists over proper treatment, among other abuses. Countless research has also been released highlighting the problem of pricing games and spread pricing, including a report on the Florida Medicaid program. COA has been active in warning policymakers at the state and federal levels that without significant action, PBM abuses will undermine the landmark progress made in fighting cancer.

2021 has seen increased scrutiny of PBMs and legislation to rein in the corporate giants’ influence. Several states, including Texas, Georgia, and Tennessee, have passed laws to increase transparency in the PBM industry. The laws also prohibit procedures like direct and indirect remuneration (DIR) fees and establish fair audit systems for local pharmacies. Now, federal legislators are taking notice and considering action at the national level.

During the forum, Okon will cover the setbacks faced by patients and practices at the hands of PBMs. From DIR fees that undercut pharmacists to medication delays that can harm or kill patients, Okon will speak to legislators using a combination of data gathered from practices and real-world patient experiences.

Want to follow along with the forum? Visit this link to watch live at 10 a.m. ET.

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About the Community Oncology Alliance
The Community Oncology Alliance (COA) is a non-profit organization dedicated to advocating for community oncology practices and, most importantly, the patients they serve. COA is the only organization dedicated solely to community oncology where the majority of Americans with cancer are treated. The mission of COA is to ensure that patients with cancer receive quality, affordable, and accessible cancer care in their own communities. More than 1.5 million people in the United States are diagnosed with cancer each year and deaths from the disease have been steadily declining due to earlier detection, diagnosis, and treatment. Learn more about COA at communityoncology.org.

Nicolas Ferreyros
Community Oncology Alliance (COA)
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Source: EIN Presswire