HOW YOU SUFFER
Whether you need prescription medication, own a neighborhood pharmacy or simply pay taxes in New York, the prescription drug middlemen known as PBMs are hurting you every day.
PATIENTS
While senior citizens and chronically ill New Yorkers are especially dependent on prescription drugs, most of us rely on them at one point or another. As patients, PBMs impact all of us. How ? In two key ways:
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Keeping drug costs high
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Deciding what drugs your doctors are allowed to prescribe for you
TAXPAYERS
If you don't take prescription medication, you might think PBMs aren't hurting you. But if you're a taxpayer in New York, PBMs are ripping you off whether or not you ever step foot in a pharmacy. In fact, PBMs ripped New York taxpayers off to the tune of a whopping $300 million between April 1, 2017 and March 31, 2018. [3 Axis Advisors. (2019). Analysis of PBM Spread Pricing in New York Medicaid Managed Care.]
PHARMACIES
Independent neighborhood pharmacies - which have long been cornerstones of their communities across New York - are being choked out. In 2018, more than 2/3 of neighborhood pharmacies were forced to let employees go or reduce hours in 2018. It's not due to competition from chain pharmacies.
