In response to the release of a Health Policy Commission report today about the impact of PBMs on pharmaceutical spending, Bob Coughlin released the following statement:
“We applaud the HPC for recommending policy action to require more oversight of PBMs, which offer no added value to the healthcare system and drive up patients’ out-of-pocket expenses. There’s no doubt spread pricing by PBMs in MassHealth’s managed care program is costing the state millions of dollars a year in excess expense in return for zero added value. If spread pricing was eliminated, we believe the state could save tens of millions of dollars annually in a way that doesn’t harm innovation – in stark contrast to other legislative drug pricing reform proposals currently being considered.”
– Robert K. Coughlin, President and CEO of MassBio