patients demand pharma pricing transparency

Patients Demand Pharma Pricing Transparency

Patients want transparency.  In recent years, patients are facing higher deductibles and higher premiums according to the Kaiser Family Foundation, KFF. Patients are also seeing complex and unclear pricing when it comes to routine checkups and medical tests.  In some cases, these complex pricing databases help knowledgeable patients compare prices refeeding medical procedures. In most cases, most about pricing in the big pharma world are still a mystery to them. More patients demand pharma pricing transparency than ever. Most of...

PBMs are the Gatekeepers to Managing Employees’ Drug Abuse

In 2018, the opioid epidemic cost the country $179 billion in mortality related expenses, health care expenses, lost productivity, criminal justice expenses, and assistance. The opioid epidemic is a preventable and complex public issue that arises from a myriad of causative factors. Because of this, the solutions needed to effectively end the opioid epidemic require multiple stakeholders, including healthcare providers, pharmacies, drug manufacturers and employers. Highlighted among the participants in ending this crisis is the pharmacy benefit manager (PBM).  PBMs...

PBMs Lower Health Costs, Improve Outcomes for Patients

266 million consumers are fighting to keep prescription drugs accessible and affordable. PBMs are advocating for them. By using advanced tools to manage pharmacy benefits, negotiating price concessions from drug manufacturers, improving patient adherence to prescriptions, encouraging generic drug use, managing high-cost specialty medications, and offering more affordable pharmacy channels, PBMs are vying to achieve overall stability for the cost of prescription drugs.  It is estimated that in the next decade, PBMs efforts will save plan sponsors and consumers over...

Ohio is Leading the Charge in Successful PBM Integration Through the State Medicaid Program

House and Senate leaders in Ohio are establishing a system that has the potential to offer a significant change in the state’s Medicaid program. They are leading the charge in this change by hiring a pharmacy benefit manager, also known as a PBM. The PBM was chosen by the state’s Medicaid department with the hopes of cutting out the middleman and providing a more transparent view of the state's current financial landscape in terms of drugs, pharmacies, reimbursements, and more....