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Pharmacists Association urges PBM transparency, licensure and insurance oversight in HB229 hearing
Summary
An executive from the Ohio Pharmacists Association testified in favor of HB229, which would create licensure, reporting and Department of Insurance oversight of pharmacy benefit managers to increase transparency; members questioned fees, audit costs and fiduciary language.
David Burke, Executive Director of the Ohio Pharmacists Association, testified before the House General Government Committee in support of House Bill 229, which sponsors described as a transparency and oversight measure for pharmacy benefit managers (PBMs).
"Acting as true middlemen, these three main PBMs now control 80% of pharmacy networks dictating price, cost, network access with little to no oversight, accountability, or…
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