3 indiana tax payers are losing roughly 120 million dollars annually due to what some people call unethical prescription drug pricing.
Custom plus pharmacy owner ben rachwal wants to shed light on the problem.i talked with him about how he believes the federal and state governments could help.
3<natkayla: all ben rachwal wants is transparency and fairness.rachwal: "let's just uncover this story, let's see where the money is going," kayla: pharmacy benefit managers or pbm's control the cost of insurance company prescription claims. however, they aren't regulated and they aren't licensed.rachwal: "nobody knows what they're doing, it's the black box of the whole equation,"kayla: he says this secrecy would allow pbm's to pocket rebates from drug manufacturers to get on the preferred list.
It's estimated that pbm's cost hoosiers roughly 120 million dollars in medicaid expenses.
The practice is affecting taxpayers, prescription users and pharmacy owners.rachwal: "we're losing money to fill prescriptions.
That's the summary and that's not a good business model,"natkayla: in order to keep local pharmacies afloat and prices for consumers low, rachwal says something needs to be done.nat senator mike braun is proposing bills to help on the federal level..
But he knows it won't be easy.braun: "i think there's going to be resistance, foot dragging, that's why i'm there,"rachwal: "we have to thank him for taking up this cause.
Because not a lot of people are aware that this is happening behind the scenes,"kayla: rachwal wants state lawmakers to get involved too.
There's still hope for something to pass this session.rachwal: "we're only asking for licensure and we are asking for transparency through annual reporting."
Kayla: he doesn't think that's a lot to ask.rachwal: "and if the estimates are correct, the state of indiana is going to have a huge win!"> 3 ?so, what's the chance state lawmakers will pass something on pbm's?
?i talked with senator ron grooms, he's actually a former pharmacist.
?he says there are two house bills that are getting a hearing in the senate next week that could contain pbm language.?but he encourages people to reach out to their lawmakers if they want this to go through.however, senator ron alting says he is already in support