Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics
When 3 or 4 PBMS control 80 percent of the prescriptions filled in US, something is TOTALLY WRONG!!! These entities are the new mafia of the 21st century. They steal money from pharmacies, they are not regulated, and they steal money from consumers. They extort money from large pharmaceutical companies and call it rebates (i.e. kickbacks) so the pharmaceutical company can get their drug covered on formulary. These rebates are kept by the crooks, I mean PBMS. So the consumer doesn't get any of that money, the pharmacy does not get any of that money, and the PBM POCKETS ALL THE MONEY!!CRAZIEST SYSTEM EVER!!!! PBMS DO NOT UPDATE THEIR DRUG FILES, ROUTINELY PAY US BELOW ACQUISITION COST AND CALL ALL OF THESE ACTIONS CONTRACT. PHARMACISTS CALL IT CRIMINAL!!!! IN ADDITION, UNDER MEDICARE PART D, THE PBMS CREATED A NEW REVENUE CALL DIR FEE, A FEE TO FILL MEDICARE PRESCRIPTIONS. LAST YEAR ALONE, MY ONE STORE PAID 40,000 DOLLARS IN DIR FEES TO FILL MEDICARE PRESCRIPTIONS FOR CVS CAREMARK. DO THE MATH, THE CROOKS EXTORTED BILLIONS OF DOLLARS IN FEES TO PHARMACIES WHICH I AM SURE THEY PUT IN THEIR POCKET. SOMEONE IS ASLEEP AT THE WHEEL UP THERE. WAKE UP AND DO THE RIGHT THING FOR ONCE. BREAK UP THESE MONOPOLIES, MAKE THEM DIVEST THEIR MAIL ORDER PHARMACIES, AND LET MEDICARE NEGOTIATE DRUG PRICES NOT THESE CROOKS. BY THE WAY, THEY ALSO WRITE THE CONTRACTS AND CAN CHANGE THEM AT ANY TIME IF THEY WISH!! NEEDLESS TO SAY, THIS IS THE CRAZIEST, STUPIDEST, SYSTEM I HAVE EVER SEEN, AND EITHER PEOPLE IN WASHINGTON ARE COMPLETE IDIOTS OR THEY ARE BOUGHT OFF, I REPORT, YOU DECIDE!!!! FIX THIS NOW!!! JIM MUNSEY D.PH.