Pharmacy Benefit Consultants was founded by Attorney Linda Cahn. Since its founding, PBC has worked with numerous entities, including private corporations, coalitions, unions, insurance companies and government entities to decrease their drug benefit costs and improve their drug benefit coverage.
Linda Cahn’s experience uniquely positions her to advise drug benefit purchasers. In 1997, Linda initiated the first class action litigation against pharmaceutical benefit management companies (PBMs). Her lawsuits alleged that the two largest PBMs at the time – Medco Health Solutions, Inc. (Medco) and PCS Health Systems, Inc. (PCS) – had breached their ERISA fiduciary duties to employee benefit plans across the country, increasing plans’ drug benefit costs.
Since 1997, Linda has reviewed hundreds of confidential contracts between PBMs and their clients, scores of RFPs, and hundreds of thousands of confidential internal PBM documents revealing how PBMs create profit margins and thereby increase their clients’ costs.
For more than seven years, Linda has also conducted meetings with federal and state officials on Capitol Hill, at the Government Accounting Office (GAO), at the U.S. Labor Department, in federal prosecutors’ offices and in numerous state attorney general offices. She has also testified before State Legislative hearings, and worked with State Legislators to draft legislation to improve the PBM marketplace. Her work has educated prosecutors and legislators about drug benefit and pricing issues and generated investigations of the PBM industry.
Believing that corporate America, labor unions, municipal entities and insurance companies all need greater access to core information about the PBM industry, Linda has also given numerous presentations on drug pricing issues across the country. Moreover, she has worked with reporters from the national and local media, leading to in-depth stories including in the New York Times, Wall Street Journal, Newsweek, Fortune magazine and NPR.
Pharmacy Benefit Consultants’ raison d’etre is clear: Through our work, we intend to change the prescription coverage marketplace and decrease our nation’s prescription coverage costs.