New coalition of Transparent PBM companies seeks to fix nation's broken drug pricing system
Transparency-Rx (Transparency-Rx.com), a not-for-profit coalition led by transparent pharmacy benefit manager (PBM ) executives, formally launched today.
With a forward-looking policy platform, Transparency-Rx embraces many of the anticipated changes to the industry under consideration in Congress and increasingly advanced by state policy makers. Core tenets being championed by Transparency-Rx includes:
- A 100% pass-through model.
- A ban on spread pricing.
- National reporting and disclosure requirements for the industry and its consultants.
- "Delinking" provisions which will require PBMs to be paid by a flat, disclosed fee.
- Rebate reform, inclusive of "group purchase organizations" (GPOs).
- Technology which empowers that actionable data and information is shared with patients, plans, pharmacists, and physicians, throughout the drug supply-chain.
At the federal level, policymakers have advanced more than 43 bills impacting both the commercial and public sector markets. Transparency-Rx is working with Democrats, Republicans and the Administration so the strongest PBM reform package is advanced, a distinction from larger competitors opposing reforms.
Stated LeAnn Boyd, PharmD, CEO of Liviniti, a leading member of the Transparency-Rx:
"Congress should know patients, employers, and plans can thrive in a transparent, competitive, and efficient PBM market. We embrace critical reforms to a costly and misaligned drug pricing market. In fact, most of these reforms are already reflected in the business and innovations of transparent PBMs."
Transparency-Rx's growing coalition represents over 14.5 million covered lives with operations, employers, patients, and plans in all 50 states. Founding members include:
- Affirmed-Rx, https://affirmedrx.com
- Liviniti, formerly Southern Scripts, https://liviniti.com
- MedOne Pharmacy Benefit Solutions Rx, https://medone-rx.com
- Navitus Health Solutions, https://www.navitus.com
- RxPreferred Benefits, https://rxpreferred.com
- Smith Rx, https://smithrx.com
In an industry that has opposed meaningful drug reform, Transparency-Rx seeks to inject common-sense, change and clarity into a complex environment.
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