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Prescription drug costs rising across the U.S.

Twin Falls KMVT logo Twin Falls KMVT 12/2/2021 Nicholas Snider
Perscription drug prices continue to rise all across the U.S. © Provided by Twin Falls KMVT Perscription drug prices continue to rise all across the U.S.

Idaho (KMVT/KSVT) — Costs of prescription drugs have been rising, making some unable to afford drugs when going to the pharmacy.

Some experts say that this is due to the pharmacy benefit managers, or PBMs. These companies act as middlemen between pharmacies and drug companies and were originally intended to pass savings onto consumers.

However, side effects from this business practice have made this not the case.

“The original idea was by aggregating demand from lots of patients, lots of health plans, they would have lots of volume to actually leverage manufacturers into. discounts, into lower prices,” said Mark Blum, director of national healthcare alliance America’s Agenda.

“They actually do that, the problem is over time they become profit centers themselves, and they don’t pass those savings down to consumers.”

Blum also says that regulating these companies can be tough, as closing one door for profits can open another door...

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