“The broker not only gives bad advice to the employer that’s in the broker’s self-interest, but the broker also allows the big PBM to write crazy terms into a contract. It’s unethical. It’s beyond unethical.” – Jonathan Levitt
Did you know that the relationship between consulting firms and pharmacy benefit managers (PBMs) might not be as transparent as it seems? A recent investigation by STAT has shed light on hidden financial arrangements that compromise the best interests of employers.
Frier Levitt Co-Founding Partner Jonathan Levitt expressed his concern about the opaque financial relationships between consulting firms and PBMs. He emphasized the need for transparency and fair dealings in the industry.
STAT’s yearlong investigation is the first comprehensive exploration of these hidden financial relationships. With insights from industry experts, court filings, and internal documents, the investigation sheds light on a previously unknown aspect of the relationship between consulting firms and PBMs.
As Congress looks into the practices of PBMs, potential legislation may address some of these issues. However, the behind-the-scenes payments remain largely undisclosed.
Read the full article to learn more about these intricate dynamics and the potential impact on employers and prescription drug coverage here.
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