CAHC Statement on Senate Finance Committee Hearing with PBM Executives

WASHINGTON, DC (April 9, 2019): The Council for Affordable Health Coverage (CAHC)  – a coalition of employers, insurers, life science companies, PBMs, brokers, agents, patient groups, and physician organizations – responded today to the Senate Finance Committee's hearing on prescription drug affordability with executives from leading Pharmacy Benefit Managers (PBMs).

CAHC President Joel White released the following statement: 

"Today's hearing once again highlighted areas of disagreement in the drug pricing debate, but it also shone a light on opportunities to find common ground. Witnesses' perspectives differed greatly from the pharmaceutical manufacturers who appeared last month, but both embraced the potential of value-based purchasing arrangements (VBAs) to improve affordability and lower health costs. If stakeholders as diverse as these can agree on a way forward, so should Democrats and Republicans in Congress."

"Addressing impediments to VBAs in federal health programs through legislation like the draft PAVE Act - along with other consensus-based solutions such as promoting real-time benefit tools and implementing reasonable out-of-pocket caps in Medicare Part D - are at the heart of our drug affordability agenda. We look forward to our continued work with lawmakers on market-based measures that will make a real difference in patients' pocketbooks."  

Background:

  • See CAHC's recent comment letter on the administration's proposed rebate rule here.

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