Video: Aside from Pharma and PBMs, Who’s Driving Up Drug Costs?

Bipartisan congressional scrutiny has cast a sharp spotlight on the many tactics used by pharmacy benefit managers (PBMs) and Big Pharma that contribute to the sky-high cost of prescription drugs in the United States. Last year, the country spent $723 billion on prescription drugs alone – the entire world combined paid almost the same amount. Now the FTC has sued the Big 3 PBMs over their insulin-related practices. Some drug company CEOs have been dragged before Congress to testify about why drugs are so expensive.

However, it would be wrong to think that only these two entities drive up drug costs domestically. Others do it too. As Paul Markovich, CEO of Blue Shield of California, explained at an event this spring, both drug distributors and hospitals are to blame. Check out these videos below.

Photo: champc, Getty Images