Thread by @mass_marion

Mr. Scott of @pcmanet, the lobby group for #PBM has been called one of The Hill newspaper’s “Top Association Lobbyists” each year from 2015 to 2020.
Yesterday he spoke at the @FTC hearing on how mergers are affecting healthcare. Let's dissect what this lobbyist said 🧵1/6....

Scott of @pcmanet told @FTC that there were over 70 #PBM.
True, but from DrugChannels, we can see that SIX PBM control 95% of the prescription drug claims in the US
THAT is one WAAAAAY conslidated market! 🧵2/6

The lobbyist Scott of @pcmanet told @linakhanFTC that #PBM were the only players in the market that saved money on prescription drugs.
Whatever you are "doing " to "save 💵"
it ain't working.
Meanwhile #PBM and associated co are at the top of the fortune 500. 🤔 🧵3/6

How did PBM get so rich?
-Spread pricing, which amounts to robbing Medicaid
-DIR clawbacks
-predation of Mom and Pop Pharmacies
-Vertical Integration
-Replacement of the physician workforce
-Collecting kickbacks
Read details in @bizcatalyst360
bizcatalyst360.com/america-its-ph… 🧵4/6

corporations, like #PBM " are now the big players in medicine. They suck in vast amounts of 💵, and they spend part of that 💵 making sure the rules of the road in American healthcare favor them, not the patient. @medpagetoday @RIPMedicalDebt
medpagetoday.com/publichealthpo… 🧵5/6

@pcmanet and #PBM lobbied to eliminate the "rebate" rule that would eliminate safe harbor protections for drug KICKBACKS and pass 💵 directly to consumers at the pharmacy counter.
In #insulin hearings, @HouseCommerce were excellent on this issue!
fiercehealthcare.com/payer/pbms-con… 🧵6/6