Send a Tweet
Most Popular Choices
Share on Facebook 28 Share on Twitter Printer Friendly Page More Sharing
OpEdNews Op Eds   

Thugs-In-Ties-Suit: 3 Axis Advisor Prez Antonio Ciaccia on Pharmacy Benefit Managers (PBM) report.

By       (Page 1 of 1 pages)   No comments
Follow Me on Twitter     Message Egberto Willies
Become a Fan
  (17 fans)

(Image by Egberto Willies)   Details   DMCA

Antonio Ciaccia exposes Pharmacy Benefit Managers (PBMs) and their drug pricing complicity. My question is, should PBMs even exist?

Clarence Miller speaks

See full episodes here.

Antonio Ciaccia, President of 3 Axis Advisors led government affairs for the Ohio Pharmacists Association, a trade organization with a strong track record of advocating for drug pricing transparency. Antonio has since spent years studying the pharmacy marketplace, publishing several analyses on the drug pricing code, and pulling the rug out from what he believes is one of the most dysfunctional marketplaces in the world.

Consumers face an unfair disadvantage at their local pharmacy counter, with many paying more than they should for their needed medications due to the business practices of little-known companies in the drug supply chain called Pharmacy Benefit Managers (PBMs). The PBM Accountability Project released a report in early December 2021 based on research conducted in collaboration with data analysis firm, 3 Axis Advisors, which identifies the ways PBMs take advantage of the healthcare system to increase revenues.

If you have health insurance, whether it be through Medicare, Medicaid, or private insurance, chances are it's managed by a PBM. They act as middlemen between drug manufacturers and patients' health plans, negotiating savings on prescription medicines and determining which drugs will be covered by insurance. However, PBMs fail to pass savings to the patients and insurance companies, while undermining the possibility for competition that would drive value and savings for consumers. This drives up the cost of prescription drugs, leaving you to pay more out of pocket.

"With PBMs essentially centered at the core of the U.S. drug supply chain, it begs for scrutiny of how their business practices may exacerbate drug pricing dysfunction and excess," said Mr. Ciacias. "As PBMs claim to be the only entity working to control drug prices, we believe that analyses like this report can shed light on the incentives and opportunities PBMs have to inflate costs rather than provide savings to plan sponsors and patients."

Watch the entire episode here.

My Books, "NEW! How to make America Utopia: Take away the economy from those who rigged it," "It's Worth It: How to Talk To Your Right-Wing Relatives, Friends, and Neighbors" & "As I See It: Class Warfare: The Only Resort To Right Wing Doom" support (1) communication techniques & (2) our Progressive message delivery.

Please join our YouTube channel to get the numbers up to open up some more features and reach more folks. Gracias!

Rate It | View Ratings

Egberto Willies Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram Page

Egberto WilliesEgberto Willies is a political activist, author, political blogger, radio show host, business owner, software developer, web designer, and mechanical engineer in Kingwood, TX. Egberto is an ardent Liberal that believes tolerance is essential. His favorite phrase is "political involvement should be a requirement for citizenship". He believes that we must get away from the current policies that reward those who simply move money/capital and produce nothing tangible for our society. If a change in policy does not occur, America will be no different than many oligarchic societies where a few are able to (more...)
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Trump Effect: TV Producer to neighbor 'Your son is dating a f*cking n**ger'

What happens when Trump supporters realize they've been had?

This is how one responds to Right Wing Hacks in Real Time - Good job Don Lemon

Black & brown people joining 2nd Amendment Movement may save America

Trump Effect: New Kingwood, TX business model: Lawn Care by 'White People' U.S. Citizens (VIDEO)

O'Donnell turns Trump stunt into GOP excoriation & Democratic narrative win (VIDEO)

To View Comments or Join the Conversation:

Tell A Friend