Bill > S298

This bill requires the Government Accountability Office (GAO) to study the role of pharmacy benefit managers (PBMs) in the pharmaceutical supply chain and provide Congress with policy recommendations. The study would address the state of competition among PBMs, the use of rebates and fees by PBMs, whether PBMs structure their formularies to favor high-rebate drugs over lower-cost alternatives, the average prior authorization approval time and factors affecting the use of step therapy by the 10 largest PBMs, and the extent to which PBMs charge payors more than they pay pharmacies for drugs. The goal is to lower the cost of prescription drugs for consumers and payors, improve the efficiency of the pharmaceutical supply chain, increase competition in PBM services, and provide transparency in PBM practices.