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{"id":1546,"date":"2022-06-01T19:44:42","date_gmt":"2022-06-01T23:44:42","guid":{"rendered":"https:\/\/dev.pirg-test.com\/georgia\/edfund\/updates\/update-federal-trade-commission-urged-investigate-pharmacy-benefit-managers-uncover\/"},"modified":"2022-06-01T19:44:42","modified_gmt":"2022-06-01T23:44:42","slug":"update-federal-trade-commission-urged-investigate-pharmacy-benefit-managers-uncover","status":"publish","type":"update","link":"https:\/\/dev.pirg-test.com\/georgia\/edfund\/updates\/update-federal-trade-commission-urged-investigate-pharmacy-benefit-managers-uncover\/","title":{"rendered":"Federal Trade Commission urged to investigate pharmacy benefit managers to uncover anticompetitive practices which raise drug prices for consumers"},"featured_media":42549,"template":"","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":false,"_yoast_wpseo_meta-robots-nofollow":false,"_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":""},"campaign_tax":[146],"display_option":[],"issue_tax":[],"region_tax":[],"state":[7,8,9,12,13,16,18,23,24,25,28,29,2,32,33,34,36,38,40,41,42,46,50,52],"topic_tax":[120],"class_list":["post-1546","update","type-update","status-publish","hentry"],"acf":{"details":{"helper_taxonomies":{"topics":[120],"collection":false,"press_type":false,"person_type":false,"resource_type":false,"event_type":false,"campaigns":146,"department":false,"level":false,"states":[2,7,8,9,12,13,16,18,23,24,25,28,29,32,33,34,36,38,40,41,42,46,50,52],"act_option":false,"display_option":false,"primary":{"topic":120}},"featured_image":42549,"caption_override":"","excerpt":"","hide_hero_image":false},"helper_people_group":{"title":"Authors","entities":[{"type":"dynamic","dynamic_person":{"site":16,"people":"130"},"information":{"name":"","image":null,"role":"","biography":"","contact":{"twitter":"","facebook":"","email":"","phone":""}}}]},"page_layout":[{"acf_fc_layout":"layout_wysiwyg","_acfe_flexible_toggle":null,"component_wysiwyg":{"content":"

Joining other consumer organizations, PIRG submitted comments<\/a> to the Federal Trade Commission (FTC) to recommend a broad investigation into the anticompetitive practices used by pharmacy benefit managers (PBMs).\u00a0 PBMS are the companies that manage the prescription drug portion of a health insurer\u2019s benefits package. Our comments pointed out that \u201c[i]n the past decade, PBM profits have more than doubled<\/a> and increased to $28 billion annually.\u201d\u00a0<\/p>\n

We urged the FTC to conduct a deep dive investigation into the PBM industry to \u201ccapture allegations of widespread fraudulent and deceptive practices.\u201d Immediate attention by the FTC\u00a0 is necessary because the \u201cPMB industry has avoided antitrust scrutiny for far too long.\u201d\u00a0<\/p>\n