PBMs Collect Millions in Missing Ohioan Medicaid Funds Amid Clawback Questions

According to Ohio Medicaid Director Maureen Corcoran at a legislative watchdog hearing, pharmacy benefit managers (PBMs) have collected millions of dollars from pharmacies in unscrupulous drug transactions. Although these clawbacks are unethical, they may not be illegal.

3 Axis Advisors President Antonio Ciaccia noted, “This week’s hearing confirmed what we already knew: PBMs have used a more evolved and complicated form of pricing gymnastics to inflate prescription drug costs to the state Medicaid program and beyond,” adding, “Yet again, Ohio is leading the way in exposing and repairing a fundamentally broken system.” Read more here.

(Source: Darrel Rowland, The Columbus Dispatch, 10/27/21)