Jonathan Levitt Invited to Testify Before U.S. Senate Committee on Finance on the Impact of Pharmacy Benefit Managers on Patients and Taxpayers
PRESS RELEASE – New Jersey/New York, March 28, 2023 – Jonathan Levitt, a renowned trial attorney in the healthcare and life sciences industries and the co-founding partner of Frier Levitt, has been invited to testify before the U.S. Senate Committee on Finance on March 30, 2023, at 10:00 AM in Washington, D.C. The hearing, titled “Pharmacy Benefit Managers and the Prescription Drug Supply Chain: Impact on Patients and Taxpayers,” will be live-streamed via this link. His testimony could help initiate a positive change in the way drugs are sold, distributed, and priced for tens of millions of Americans.
Pharmacy Benefit Managers (PBMs) are third-party administrators that negotiate drug prices on behalf of health plans, employers, and government programs. PBMs are responsible for processing and paying prescription drug claims submitted by participating providers on behalf of covered patients. However, PBMs’ practices and reduced transparency in the drug supply chain have driven up drug costs, greatly impacting patient access to affordable medications.
Frier Levitt has been advocating for independent pharmacies and dispensing medical practices for more than two decades. PBMs often use their position to benefit themselves, at the expense of nearly all other stakeholders in the Medicare and Medicaid program, including patients, taxpayers, pharmacies, and physicians. Frier Levitt has long been at the forefront of efforts for increased government oversight and scrutiny of PBM conduct, including those of their parent companies and affiliated entities, such as Medicare Part D plan sponsors and rebate aggregators.
As a leading voice in the healthcare industry, Mr. Levitt will share his insights on the role of PBMs in the prescription drug supply chain and their impact on patients and taxpayers. His testimony will address the challenges faced by patients in accessing affordable medications and the need for greater transparency in PBM practices.
“I am honored to have been invited to testify before the U.S. Senate Committee on Finance,” said Jonathan Levitt. “PBMs have a significant impact on our healthcare system, and it is essential that we address the issues related to their practices. I look forward to sharing my insights and recommendations with the Committee.”
As a highly experienced trial attorney, Mr. Levitt has been in the trenches, representing various stakeholders in the drug supply chain, including pharmacies, dispensing physician practices, hospital and health systems, national provider associations, drug manufacturers, drug wholesalers, and plan sponsors. He litigates and arbitrates claims brought by these stakeholders against PBMs and affiliated entities, often uncovering secretive PBM tactics used to hide funds and manipulate financial transactions in their favor. Mr. Levitt has tried numerous litigations and arbitrations involving Medicare Part D “Direct and Indirect Remuneration” (DIR) Fees. He represents state Medicaid systems conducting audits of PBMs, and, more recently, represents plan sponsors, such as self-insured employers and state governments, challenging the opaque practices of PBMs. Clients count on Jonathan to challenge the one-sided contracts drafted by PBMs and level the playing field.
Frier Levitt commends the U.S. Senate Committee on Finance for holding this hearing to address PBM practices and their impact on patients and taxpayers. The firm remains committed to advocating for patients and taxpayers and looks forward to continuing the conversation on PBM reform.
About Frier Levitt
Frier Levitt is a premier boutique law firm with offices in New York and New Jersey. Firm attorneys are recognized industry leaders who provide an array of services to healthcare and life sciences clients nationally. Frier Levitt serves the provider community, wholesalers, manufacturers, and plan sponsors, large physician group practices, hospitals, hospital medical staff, ambulatory surgery centers, and laboratory companies. With over 20 years of experience, the firm is a pioneer in PBM contract and application law with firm attorneys being at the forefront of challenging PBM-imposed DIR fees.
Also covered in:
- Bob Menendez Newsroom: Menendez Slams Pharmacy Benefit Managers’ Practices that Prioritize Profits and Drive Up the Cost of Prescription Drugs for Patients
- James Lankford News: Lankford Defends Oklahomans From High Drug Prices
- Fierce Healthcare: Capital Rx Exec to Senators: Here’s How to Fix the PBM Industry
- The Epoch Times: Experts Say Transparency Needed in Drug Pricing Practices
- BioWorld: Congress on Path to Revise the ‘Rules of the Road’ for PBMs (subscription required)
- NTD News: Pharmacy Benefit Managers Scrutinized and Criticized at Senate Hearing
- Managed Healthcare Executive: More Scrutiny and Criticism of PBMs
- MedPage Today: Experts Call for PBM Transparency During Senate Hearing
- Drug Topics: Senate Finance Committee Urges PBMs to Make Big Changes
- Generics Bulletin: PBM Vertical Integration Impact Under The Microscope at Senate Hearing (subscription required)