Transparency is finally having its moment. With the Transparency and Coverage Rule and the FTC's probe into the major pharmacy benefit managers (PBMs), the topic has gained steam. That's good news, but if we're all for transparency now, why doesn't everyone understand drug pricing or know their prescription cost when they show up at the pharmacy counter?
Rather than waiting for these overdue transparency actions to be implemented, there's something that employers and brokers can do right now: Ask the right questions.
|How does your PBM make money?
If you don't know the answer, they're not transparent. PBMs aren't incentivized to be transparent because they make money on drugs in many creative ways. So long as this remains true, their interests are not aligned with those of the employer or employees, and being transparent puts their business model at risk.
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