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Key Takeaways
Transparency-Rx, a coalition of six transparent PBMs covering 14.5 million lives, launched to champion drug pricing reform.
The coalition supports 100% pass-through pricing, a ban on spread pricing, and PBM delinking to flat disclosed fees.
Unlike major PBMs opposing reform, Transparency-Rx actively backs the 43+ federal bills targeting industry change.
Transparency-Rx embraces Congressional reform, as a catalyst of changes to the PBM market
September 19, 2023 09:00 AM Eastern Daylight TimeWASHINGTON--(BUSINESS WIRE)--Transparency-Rx (Transparency-Rx.com), a not-for-profit coalition led by transparent pharmacy benefit manager (PBM) executives, formally launched today.
With a forward-looking policy platform, Transparency-Rx embraces many of the anticipated changes to the industry under consideration in Congress and increasingly advanced by state policy makers. Core tenets being championed by Transparency-Rx includes:
A 100% pass-through model.
A ban on spread pricing.
National reporting and disclosure requirements for the industry and its consultants.
"Delinking" provisions which will require PBMs to be paid by a flat, disclosed fee.
Rebate reform, inclusive of “group purchase organizations” (GPOs).
Technology which empowers that actionable data and information is shared with patients, plans, pharmacists, and physicians, throughout the drug supply-chain.
At the federal level, policymakers have advanced more than 43 bills impacting both the commercial and public sector markets. Transparency-Rx is working with Democrats, Republicans and the Administration so the strongest PBM reform package is advanced, a distinction from larger competitors opposing reforms.
Stated LeAnn Boyd, PharmD, CEO of Liviniti, a leading member of the Transparency-Rx:
“Congress should know patients, employers, and plans can thrive in a transparent, competitive, and efficient PBM market. We embrace critical reforms to a costly and misaligned drug pricing market. In fact, most of these reforms are already reflected in the business and innovations of transparent PBMs.”
Transparency-Rx’s growing coalition represents over 14.5 million covered lives with operations, employers, patients, and plans in all 50 states. Founding members include:
Affirmed-Rx, https://affirmedrx.com
Liviniti, formerly Southern Scripts, https://liviniti.com
MedOne Pharmacy Benefit Solutions Rx, https://medone-rx.com
Navitus Health Solutions, https://www.navitus.com
RxPreferred Benefits, https://rxpreferred.com
Smith Rx, https://smithrx.com
In an industry that has opposed meaningful drug reform, Transparency-Rx seeks to inject common-sense, change and clarity into a complex environment.
Contacts
Joseph M. Shields, Esq.
Managing Director
Transparency-Rx.com
joe@transparency-rx.com
703-344-1064
SmithRx
SmithRx is the #1 Modern PBM, relentlessly focused on eliminating the conflicts and complexity of legacy pharmacy benefits. Built on radical transparency and fiduciary alignment, we empower employers to take control of their pharmacy spend and experience with our 100% pass-through model.
