Posts Tagged: hernandez

In health care, PBMs are crucial — but not regulated

A pharmaceutical worker examines drugs at a dispensary. (Photo: i viewfinder, via Shutterstock)

by ANNA FRAZIER posted 07.14.2017

The PBMs originated in the 1960s to help health plans, self-insured employers and government entities, among others, to negotiate prescription drug prices and efficiently distribute medications. Since then, they have evolved into a money-making industry without regulations, experts say. By one estimate, three major PBM companies had a staggering $270 billion in revenues in 2014.

California Healthline: The state Senate Committee on Health this week approved a bill to delay the move to managed care for California Children’s Services, a program for Medi-Cal children with rare and complicated diseases. AB 187, by Assembly member Rob Bonta (D-Oakland), would put off the state’s planned shift of children in the CCS program for a year, till January 2017.

An effort is under way in the Capitol to require local governments to perform comprehensive economic impact studies of so-called “superstores” before approving the projects.

The thorny issue pits big-box, general-service, non-union retailers such as Wal-Mart against small businesses and organized labor, who believe the huge stores unfairly compete and spark downward economic spirals. It