New government data reveals Americans are facing rising prices at the grocery store — especially with beef, pork and chicken. Speaking about the situation, President Biden commented, “these [meat processing] companies can use their position as middlemen to overcharge grocery stores and, ultimately, families.” It’s a sentiment echoed by a choir of Democrats in Congress.
The White House quickly blames a small group of “middlemen” for high hamburger prices. But where’s the outrage over the middlemen of the drug supply chain — called Pharmacy Benefit Managers? Unlike rising meat prices, which will likely abate once economy-wide inflation subsides, lifesaving medicine costs have been skyrocketing for decades.
Over the past 20 years, expenditures on prescription drugs in the U.S. have nearly tripled, and 2021 Gallup polling shows an estimated 18 million Americans skipping prescribed medication because it was unaffordable.
PBMs are a big reason why.
The Biden administration is up-in-arms about the middlemen of the meat industry supposedly manipulating prices for consumers. But on the PBM issue, the White House is bizarrely silent.
Read the full op-ed in the Washington Times by Dr. Chad Savage, an Internal Medicine physician, health care policy adviser and member of the Job Creators Network.