LITTLE ROCK, Ark. — Thursday's ALC executive subcommittee meeting at the Arkansas State Capitol was packed as pharmacists from different parts of the state made their case for an emergency rule.
The emergency rule would help pharmacists manage pharmacy benefit managers (PBMs) and their associated costs.
It's been a highly debated topic for years, creating a back-and-forth between those in white coats and lawmakers.
However, on Thursday afternoon, the subcommittee met at the Capitol and approved Emergency Rule 128 to hold PBMs more accountable.
Emergency rule 128 is the Fair and Reasonable Pharmacy Reimbursements, which is the middleman who determines which drugs are covered, how those are compensated, and which pharmacies patients can use.
The Department of Commerce and the Arkansas Insurance Department presented at the meeting. They shared data and research with lawmakers on why enforcing this law is a big deal for pharmacists worldwide.
According to Arkansas Pharmacists Association CEO John Vinson, PBMs would charge as much as $19,000 for a cancer drug that would be only $100 at a small pharmacy.
Along with Vinson's testimony, three others were shared, as pharmacists across the state shared their emotional testimonies of their businesses spiraling because of three words: pharmacy benefit managers.
One pharmacist from Northeast Arkansas said he's already looked for backup plans for other means of work. In testimony, he said, "If this doesn't work out, I've got to get a job somewhere."
The insurance department presenting this says the emergency ruling is a reaction to the 1,600 complaints from pharmacists about being unable to survive the costs of PBM.
While Arkansas already has a law requiring managers to pay pharmacies, the national average lawmakers at Thursday's meeting admitted that more enforcement is needed.
With every meeting comes a debate. Some legislators raised concerns about approving the new rule, saying that healthcare prices could rise, making it even harder for the average person to get the necessary drugs.
However, the group presenting says that while that is a possibility—research shows that in other states, it hasn't happened—it's a small price to pay to keep pharmacies in business.
Vinson said this new rule brings hope for pharmacies statewide as lawmakers work to ensure they stay open and provide needed medications for Arkansans.
The subcommittee approved a motion requiring the insurance department, responsible for handling PBMs, to report to the legislative council monthly.