Greenville Reporter

Washington, D.C. — Congressman Greg Murphy, M.D., has called on Congress to address the role of Pharmacy Benefit Managers (PBMs) in the healthcare system by passing the Lower Costs, More Transparency Act. In a bipartisan and bicameral press conference, Murphy urged Senate Majority Leader Chuck Schumer to take action against what he describes as abuses by PBMs.

"For years, we have heard testimony from small business owners, physicians, and patients about unaffordable health care, opaque pricing practices, and an overly complex and burdensome system that creates barriers to care for Americans," said Congressman Greg Murphy, M.D. "At the center of these challenges are the middlemen in our health care industry who steer patients to their own vertically consolidated entities, siphon money from our independent pharmacies, and completely obscure the flow of the health care dollar in America. As the only practicing physician in Congress, I continue to witness the impact of these challenges firsthand."

Murphy emphasized that "The Lower Costs, More Transparency Act," which has received support across party lines and chambers of Congress, aims to tackle these issues by promoting transparency and competition in healthcare pricing. He expressed frustration with Senate Majority Leader Chuck Schumer's delay in advancing the legislation: "Unfortunately, Senate Majority Leader Chuck Schumer held it up for almost a year. This is unacceptable, and I will keep fighting until we get it signed into law."

Pharmacy Benefit Managers serve as intermediaries between drug manufacturers, insurance companies, and pharmacies. They negotiate drug prices and decide which medications are covered by insurance plans. Critics argue that PBMs prioritize profits over patient needs by promoting higher-cost drugs and limiting access to medications while maintaining market control.

H.R. 5478 seeks to enhance price transparency throughout the healthcare system while reducing prescription drug costs. The bill aims to benefit patients as well as healthcare workers and institutions such as community health centers and hospitals.