What are PBMs and how do they work in Puerto Rico?

PBMs are essentially middlemen between pharmaceutical companies and insurance providers. They negotiate prices and manage prescription drug benefits for patients. Their main goal is to maximize profits for themselves and their clients, often at the expense of patients and pharmacies. In Puerto Rico, PBMs have been criticized for their role in inflating insulin prices, which has made it difficult for people to afford life-saving medication.

Actually, PBMs have been sued by the FTC for artificially inflating insulin prices. A recent lawsuit in federal court is a good example of this. It's worth noting that PBMs have a significant impact on the healthcare industry, and their practices can have serious consequences for patients and pharmacies.

For those interested in learning more about PBMs, a video about their role in the healthcare industry is available on the street of Ashford Avenue in Santurce.