Amidst rising prescription drug prices, consumers may finally be getting some much-needed relief if the Federal Trade Commission (FTC) follows through with a recent pledge to investigate Pharmacy Benefit Managers (PBMs) for anticompetitive practices. You can read this commentary in Real Clear Health.
Much has been written about the role Pharmacy Benefit Managers (PBMs) play in driving up the cost of prescription brand named drugs. However, far less has been written about how PBMs current business practices lead U.S. consumers, employers, and the government to pay too much for what should be low-cost drugs. Now a new paper, […]
The Federal Trade Commission is currently collecting public comments on the “Business Practices of Pharmacy Benefit Managers and Their Impact on Independent Pharmacies and Consumers.” Today ACI filed its comments with the FTC. The comments are available here.
Most consumers are probably aware of the growing problem of high drug prices in America today. From the high cost of drugs needed for everyday ailments, to specific prescription plans that require expensive copays and deductibles, Americans pay an unnecessarily high price for their medication. However, what they are probably unaware of is how Pharmacy […]
Today, the American Consumer Institute (ACI) send a letter to the Senate and House Leadership highlighting keys ways for Congress to lower drug prices for patients. Among ACI’s suggestions were the streamlining of regulations that impede market entry for generic and biosimilar drugs. In addition to increasing price competition, the letter recommends requiring Pharmacy Benefit […]
According to the Centers for Medicare and Medicaid Services (CMS), prescription drug expenditure in the United States amounted to a total of $358.7 billion in 2020. It’s estimated that Americans pay around $1,200 each year for prescription medication, well above other comparable countries. One significant cause of high drug prices are the Pharmacy Benefit Managers (PBMs). To read this […]
Now that the new administration has taken over, a lot of attention surrounds what President Biden plans for the future of health care in America. One especially important issue to consumers is that of prescription drug prices, and what the new President can do to bring them down… To continue reading, visit Inside Sources.
In a period of deep political polarization, politicians on both sides of the aisle agree that Americans are paying too much for pharmaceutical drugs. During the 2020 presidential election, both Joe Biden and Donald Trump made lowering drug prices a central pillar of their respective campaigns, suggesting in the next four years there could be […]
Back in September, President Donald Trump signed an Executive Order that instructed the Department of Health and Human Services (HHS) to design a “payment model” that would see Medicare Part B beneficiaries and the federal government pay “no more than the most-favored-nation price” for medication. Last week, the HHS announced it will test a Most […]
It is no secret that the cost of prescription drugs is a major concern for Americans today. Around 79% of the public agree that the price of prescription medication is unreasonable. But while much attention is focused on the role of drug manufacturers, a new report details how almost half of consumer spending on brand-name […]