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How PBMs Are Driving Up Prescription Drug Prices

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When P.B.M.s overcharge, it could possibly improve prices for sufferers, not simply employers and authorities packages like Medicare.

The nation’s hottest Medicare drug plan, SilverScript Alternative, lined practically 3 million Medicare beneficiaries final 12 months. Caremark is its P.B.M., and it overcharges.

Caremark makes use of Medicare’s cash to pay pharmacies, together with its personal, roughly $2,000 per 30 days for a generic blood most cancers drug, imatinib, in accordance with a pricing device on the SilverScript plan’s web site. As a result of that cost is so excessive, the out-of-pocket price for Medicare sufferers can also be excessive — $664 most months.

That’s greater than 10 instances what imatinib sells for — usually lower than $50 — at on-line pharmacies when sufferers forgo insurance coverage and pay utilizing their very own cash.

For sufferers, the scenario quantities to “freeway theft,” mentioned Stacie Dusetzina, a drug pricing skilled at Vanderbilt College.

The massive three P.B.M.s are successful enterprise by promising big financial savings. However when purchasers do the maths, many are realizing that the anticipated financial savings don’t exist.

Take abiraterone acetate, a generic prostate most cancers drug that’s accessible for nicely below $200 a month from sources like Mr. Cuban’s pharmacy.

Specific Scripts has been charging Hyatt practically $1,500 a month to cowl the drug for the resort firm’s staff, in accordance with the P.B.M.’s on-line pricing device.

Specific Scripts pockets many of the distinction between what it charged Hyatt and the wholesale price of the drug. An Specific Scripts spokeswoman, Justine Periods, mentioned, “An remoted instance of a person treatment — among the many hundreds we cowl — doesn’t precisely mirror how a lot a plan paid for its pharmacy advantages, the financial savings we assist them obtain, and the prescription security we guarantee, or how a lot members pay for medicines.”

Caremark was charging at the least one shopper, Blue Protect of California, $3,000 a month for a similar drug. “The elemental situation was the motivation construction,” mentioned Paul Markovich, Blue Protect’s chief govt. “You’ll be able to’t combat self-interest.” Blue Protect dropped Caremark as its major P.B.M.

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Latest Posts

How PBMs Are Driving Up Prescription Drug Prices

spot_img


When P.B.M.s overcharge, it could possibly improve prices for sufferers, not simply employers and authorities packages like Medicare.

The nation’s hottest Medicare drug plan, SilverScript Alternative, lined practically 3 million Medicare beneficiaries final 12 months. Caremark is its P.B.M., and it overcharges.

Caremark makes use of Medicare’s cash to pay pharmacies, together with its personal, roughly $2,000 per 30 days for a generic blood most cancers drug, imatinib, in accordance with a pricing device on the SilverScript plan’s web site. As a result of that cost is so excessive, the out-of-pocket price for Medicare sufferers can also be excessive — $664 most months.

That’s greater than 10 instances what imatinib sells for — usually lower than $50 — at on-line pharmacies when sufferers forgo insurance coverage and pay utilizing their very own cash.

For sufferers, the scenario quantities to “freeway theft,” mentioned Stacie Dusetzina, a drug pricing skilled at Vanderbilt College.

The massive three P.B.M.s are successful enterprise by promising big financial savings. However when purchasers do the maths, many are realizing that the anticipated financial savings don’t exist.

Take abiraterone acetate, a generic prostate most cancers drug that’s accessible for nicely below $200 a month from sources like Mr. Cuban’s pharmacy.

Specific Scripts has been charging Hyatt practically $1,500 a month to cowl the drug for the resort firm’s staff, in accordance with the P.B.M.’s on-line pricing device.

Specific Scripts pockets many of the distinction between what it charged Hyatt and the wholesale price of the drug. An Specific Scripts spokeswoman, Justine Periods, mentioned, “An remoted instance of a person treatment — among the many hundreds we cowl — doesn’t precisely mirror how a lot a plan paid for its pharmacy advantages, the financial savings we assist them obtain, and the prescription security we guarantee, or how a lot members pay for medicines.”

Caremark was charging at the least one shopper, Blue Protect of California, $3,000 a month for a similar drug. “The elemental situation was the motivation construction,” mentioned Paul Markovich, Blue Protect’s chief govt. “You’ll be able to’t combat self-interest.” Blue Protect dropped Caremark as its major P.B.M.

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To be updated with all the latest news, offers and special announcements.