PBMs: The Healthcare Scapegoat Saving You Money

Politicians and the media want a villain for high drug prices — and right now, that villain is Pharmacy Benefit Managers (PBMs). But here’s the truth: PBMs are one of the few forces keeping healthcare costs from exploding out of control. The FTC’s recent attack on PBMs is built on cherry-picked data and misleading narratives. I break down what PBMs actually do, why they matter, and why tearing them down could wreck the few free-market mechanisms left in our healthcare system. If you care about innovation, competition, and affordable medicine, you need to understand this fight.