PBMs and the Net Price/List Price Shell Game

PBMs and drugmakers have come under fire for extreme price hikes to insulin. Yet, when questioned by Congress PBMs used circular logic, alternating between explanations of how the list drug's list price and its net price are out of their control, yet their negotiated rebates are supposed to be making the drug more affordable for diabetes patients.

This graphic depicts the process by which a drug's net price becomes the price patients pay at the pharmacy counter.