Shannon McNulty, partner at Clifford Law Offices, joined host Lisa Dent on WGN 720 AM Radio on September 25th to discuss the government filing a lawsuit against the country’s three largest pharmacy benefit managers (PBMs). A PBM is a third-party company that manages prescription drug benefits for clients like health insurers, Medicare Part D drug plans, and large employers. PBMs act as intermediaries between health insurance companies and pharmacies.
The US Federal Trade Commission has sued the nation’s three largest PBMs, alleging that they have steered patients to buy higher-priced insulins to reap more profits.
Shannon explained how this impacts patients and what the government’s lawsuit is trying to do against the three PBMs that control 80 percent of this business.