Pharma Just Increased the Price of Hundreds of Drugs. PBMs are Minimizing the Impact for Health Plans, Employers and Patients

Pharmaceutical companies continue to raise the prices of medicines every January, with increases ranging from 1 to 33%. Efforts by the federal government to curb price increases haven’t discouraged manufacturers. Even generic drugs have seen double-digit price increases. This puts pressure on a system struggling to pay for existing medicines, particularly for popular drugs used to treat conditions with large patient populations. Despite these high prices, Pharmacy Benefit Managers (PBMs) are working to lower costs for employers and patients. The pharmaceutical industry tries to blame PBMs for high drug prices, but rebates on prescription drugs are actually driving costs down. The bottom line is that PBMs are working to protect patients and clients from the pharmaceutical industry’s price-gouging tactics. This year, the focus should be on holding the pharmaceutical industry accountable for its high and rising prices.

Source link