Mark Blum Executive Director of America’s Agenda: Health Care for All Explains the Need to Regulate Pharmacy Benefit Managers 5:08 PM Monday, May 15, 2023, Live on KWRO
Mark Blum is Executive Director of America’s Agenda: Health Care for All. He also serves as Managing Director of the America’s Agenda Healthcare Education Fund. Under Blum’s direction, America's Agenda has achieved an unrivaled record of success in building and winning statewide, comprehensive, healthcare reform campaigns. Blum is a recognized expert on innovative solutions to address the rising cost of healthcare. He currently serves on the State Health Benefits Value and Quality Task Force in New Jersey. He has also served as a special advisor on hospital finances to leadership of the California legislature. Internationally, Blum has served as advisor to Cambodian textile workers organizing the first labor unions in their country’s history. After completing graduate studies at the London School of Economics, Blum served as an economics professor and president of the faculty senate of the College of Insurance (now at St. John’s University) in New York City. There he organized his first college faculty union before moving on to become National Director of Organizing for the American Association of University Professors. Blum was the first male ever elected to the Board of Directors of the American Medical Women’s Association.
Summary of sorts:
Fed up with skyrocketing prescription drug prices, there’s a new effort by an Oregon lawmaker to do something about it. Senator Ron Wyden (D-Ore.) is leading the charge to change how pharmaceutical industry middlemen operate. According to recent reporting from Bloomberg, “ Sens. Mike Crapo (R-Idaho) and Ron Wyden (D-Ore.) pointed to “misaligned incentives” for pharmaceutical benefit managers—namely that many reap higher fees when drug prices increase—and incomplete disclosure requirements as drivers of rising drug prices in the US. The pair say they’re working to ensure seniors on Medicare in particular see the benefit of rebates that PBMs get for employers and health plans—including Medicare—in their negotiations with drugmakers.” Also, a new poll of Oregon voters finds that an overwhelming bipartisan majority agree and want lawmakers to regulate one of the main causes of high prescription drug prices costs: pharmacy benefit managers. PBMs are middlemen who profit the most from high drug prices. They are the companies between drug manufacturers and patients’ health plans who – instead of lowering drug costs as initially intended – work to increase revenues at the expense of local pharmacies, taxpayers and patients. Prescription drug prices have skyrocketed in Oregon – name brand drugs used to treat cancer, diabetes, and asthma increased as much as 73% between 2015 and 2020.