The Alabama Independent Pharmacy Alliance is pushing for transparency from pharmacy benefit managers, focusing on one in particular.
The statement, published Dec. 23 in the Alabama Healthcare Examiner, specifically mentions the PBM Prime Therapeutics, which is jointly owned by Blue Cross and Blue Shield of Alabama and 18 other Blue Cross plans. The alliance questioned “whether conflicts of interest exist.”
Alabama has some of the least competitive health insurance markets in the country, with BCBS Alabama dominating.
“BC/BS AL’s dominance of the marketplace makes it possible for the nonprofit to funnel business to the for-profit corporation that it owns,” the statement said. “The profits from this arrangement are intended to lower premiums for consumers, but BC/BS AL does not have to disclose if or how those profits were used for that purpose.”
The statement also emphasized calls for transparency as hospitals face financial challenges, linking to coverage on Montgomery, Ala.-based Jackson Hospital’s lawsuit against the insurer.
Becker’s contacted BCBS Alabama and will update this story if more information becomes available.
