To the editor:

As a local pharmacist, I have the distinct pleasure to interact with patients from all walks of life. One common factor among all of my patients is their reliance on familiar, nearby, reliable care. Unfortunately, entities known as Pharmacy Benefit Managers (PBMs) are threatening local pharmacies and putting many more out of business.

PBMs manage prescription drug programs on behalf of health plan beneficiaries and determine which pharmacies patients can use, what drugs are on patients’ formularies, and how much pharmacies get paid to dispense these drugs. In recent years, PBMs have consolidated power and vertically integrated to the detriment of patients. They are largely unregulated which allows for enormous profits with the Top 3 PBMs landing squarely in the Top 15 of Fortune 100 companies.

The result? PBMs steer patients to out-of-state mail-order pharmacies, underpay local pharmacies, and make it more difficult for pharmacists to serve their community. But it doesn’t have to be this way. Several states have already passed PBM reform to address PBMs’ abusive practices. Luckily, the Iowa Legislature is looking to make a course correction as well. SF 2231/HF 2384 shines light on PBMs’ practices, and creates a more competitive marketplace. The Iowa House already unanimously passed the bill and it now waits for Senate debate.

Local pharmacies serve as a pillar in our community’s well-being and overall ecosystem. With more and more local pharmacies closing due to PBMs, it is critical that we take action now to ensure Iowans have a place to receive vital health care with providers they know and trust. The Senate should pass SF 2231/HF 2384.

Steven Hoyman,

Owner, Hughes Pharmacy,

Emmetsburg