The cost of prescription drugs — in particular, generics — is increasingly lower when patients purchase the medications directly from online suppliers and leave their insurance cards out of the equation, according to a collaborative effort by the New York Times and ProPublica. The story, linked below, takes a closer look at the whys and implications.
As drug prices have spiraled upward in the past decade, tens of millions of generally law-abiding Americans have committed an illegal act in response: They have bought prescriptions outside the U.S. and imported them.
The number of doctors who each prescribe millions of dollars of medications annually in Medicare’s drug program has soared, driven by expensive hepatitis C treatments and rising drug prices overall, federal data obtained by ProPublica shows. more
by Dr. Franco Mueller
Partner/Medical Director, TFG Partners
We remain a bit skeptical of the studies mentioned in our previous post from KHN. Please look at the study dates, the data is from between 2007 and 2013. Many Pharma companies have boosted the price in the last two years and we are just seeing costs continue to skyrocket. There are more problems facing employers then just orphan drugs in the industry pipeline. The issues go much deeper into the pharmaceutical industry and orphan drugs are just one part of the horizon. more
Rising concerns about spending on prescription drugs that treat rare diseases are not justified, according to a new analysis in the journal Health Affairs.
“We wanted to focus on the true impact of orphan drugs,” said Victoria Divino, a senior consultant at IMS Health and an author of the study. Researchers at IMS Health and drug maker Celgene analyzed U.S. pharmaceutical spending from 2007 to 2013 on more than 300 drugs that had orphan approval under the 1983 Orphan Drug Act. more
We all need to sit down together and talk this one out.
When it comes to the current media storm surrounding the EpiPen and other drugs with rising prices, their are two points of view when it comes to laying blame. In the media, we see fault being assigned to either the drug companies or the insurers. Here are two articles illustrating the opposing viewpoints. more
With my Prescription Benefit, I pay a $20 copay for all generic medications. So when I go to the doctor for my yearly sinus infection each spring, things are pretty routine. She writes me a prescription for Amoxicillin. I walk across the street into a large chain grocery store who advertises $4 for a 30 day supply of 40 different generic drugs. more
The International Federation of Health Plans has released its 2015 Comparative Price Report, detailing its annual survey of medical prices per unit for medication and procedures around the world. As you might expect, the United States’ pricing is highest in most cases.
Prices examined in the study included those from Australia, New Zealand, South Africa, Spain, Switzerland, United Kingdom and United States. More than 540 million medical/Rx claims were analyzed from the US alone.