From Coast To Coast, A Cry For Transparency
Two bills moved through legislatures in different states yesterday about very different topics. In New York, the state assembly passed legislation that would require pharmacy benefit managers to act as fiduciaries on behalf of their clients, which typically are health plans, large employers or unions and their beneficiaries. The goal: shed more light on negotiations in order to save money.
Across the country, the California Senate passed the Pharmaceutical Drug Information and Safety Act, which would require drugmakers to disclose the results of clinical studies so doctors and patients have additional info on side effects and effectiveness.
But these bills have something important in common - transparency. Whether it’s the process by which prices are set or the tests used to find a drug’s benefits and risks, the public increasingly wants more info after years of concerns that key data is hidden away.
Such efforts aren’t new; virtually every state has a bill to regulate pharma (the National Conference of State Legislatures keeps a list). And not every bill will pass. But these are two of the biggest states and this week’s timing is no coincidence: there’s a clamor for change. And some changes will take place.
posted by Kathie Bracy at 5:57 PM
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