Cracking the Concentration: PBMs, Power, and the Fight for Fairness | PBM Reform Podcast

In this relaunch of the PBM Reform Podcast , Greg Reybold returns with a powerful and timely conversation exploring how concentrated economic power—particularly in the form of Pharmacy Benefit Managers (PBMs)—is undermining fair access to prescription medications, driving up drug costs, and crushing independent pharmacies. Greg is joined by Emma Freer, Senior Policy Analyst with the American Economic Liberties Project, a national non-profit and non-partisan organization dedicated to dismantling monopolistic control across critical sectors—including healthcare. Together, they dig deep into how PBMs serve as gatekeepers in the drug supply chain, extracting value at the expense of patients and providers, and how policy reform is urgently needed. Emma outlines how Economic Liberties is driving a new wave of anti-monopoly policy momentum in healthcare by advocating for stronger antitrust enforcement, corporate accountability, and legislative transparency. She highlights how concentrated PBM power not only threatens economic fairness but undermines public health outcomes. 🧠 Key Topics Covered: The history and unchecked growth of PBM power in the U.S. drug supply chain Why market concentration among PBMs is a systemic risk to patient access and competition What Economic Liberties is doing to pressure regulators and lawmakers for structural reforms Why bipartisan PBM reform is gaining traction—and what’s at stake if we fail to act How pharmacists, community leaders, and patients can join the movement for transparency and equity 💥 Why This Episode Matters: PBM dominance is no longer just a pharmacy issue—it’s an economic justice issue. This episode sheds light on the structural forces keeping drug prices high and independent pharmacies on the edge. It offers a compelling call to action for healthcare professionals, lawmakers, and reform advocates to push back against monopolistic control and put patients first. 📢 Call to Action: Visit www.economicliberties.us to explore their policy work and toolkits for reform advocates. Stay tuned to the PBM Reform Podcast as we bring together voices from across the healthcare and policy spectrum to fight for a fairer, more transparent system. Follow, rate, and share the podcast—because real reform starts with awareness and ends with action.