NASHVILLE, Tenn. — Tennessee Governor Bill Lee signed a bill that stops pharmacy benefit managers from owning pharmacies in the state. CVS claims the bill could shut down more than 100 stores and impact where patients are able to get their prescriptions.
Senate Bill 2040 focuses on pharmacy benefit managers — also known as PBMs — who are the middlemen between the pharmacy, the drug manufacturer and the insurance company. The proposed bill says companies can’t be both the pharmacy benefit manager and the pharmacy, as it has created conflicts of interest that can restrict patient choice, increase costs and jeopardize continuity of care.
A release sent by the Tennessee Pharmacists Association said they support the law, and that it restores “fairness and transparency to the pharmacy marketplace.”…