Drug pricing

Americans Left in Limbo Over Lower Drug Costs

Retrieved on: 
Thursday, April 1, 2021
Health sciences, Pharmaceutical industry, Health, Pharmacy, Drug pricing, Pharmaceuticals policy, Medication costs, Medication, Prescription drug prices in the United States, Online pharmacy

Two months into the new administration, President Joe Biden delivered his first solo press conference without addressing spiraling medication costs.

Key Points: 
  • Two months into the new administration, President Joe Biden delivered his first solo press conference without addressing spiraling medication costs.
  • Until there is coordinated relief for high drug costs, Canada Drugs Direct remains one of the only safe and affordable ways people can dramatically cut prescription costs.
  • Despite the previous administration's efforts to ease drug costs, no final agreements have been put in place between the government and drug makers to lower prices.
  • Americans looking for ways to lower their drugs costs, like using Canada Drugs Direct, shows there is already a financial need to find savings where possible.

"Power to the Patients" Awareness Campaign Launched to Combat Hidden Prices of Healthcare

Retrieved on: 
Wednesday, March 31, 2021
Competition, Pricing, Healthcare industry, Transparency, Health Economics, Drug pricing, Health policy in the United States

NEW YORK, March 31, 2021 /PRNewswire/ --"Power to the Patients," a new awareness campaign was launched today to combat hidden prices of healthcare.

Key Points: 
  • NEW YORK, March 31, 2021 /PRNewswire/ --"Power to the Patients," a new awareness campaign was launched today to combat hidden prices of healthcare.
  • This campaign strives to raise awareness that prices are a patient's right prior to receiving care.
  • This campaign will help bring awareness to this rule and combat the lack of transparency and inconsistent pricing often leading Americans to financial despair.
  • Until there is a universal healthcare system in this country, we need transparency and consistent pricing in the healthcare industry.

Uncertainty of Government Pricing Policies, Evolution of PBMs, and 340B Program Expansion Identified as Top External Challenges for Pharma Pricing & Contracting Teams This Year

Retrieved on: 
Wednesday, March 3, 2021
Health, Other Science, General Health, Pharmaceutical, Science, Biotechnology, Health Resources and Services Administration, Drug pricing, 340B Drug Pricing Program, Pharmacy benefit management, Pricing

The report, based on biopharma companies in varying stages of development, finds that uncertainty of government pricing policies, evolution of pharmacy benefit managers (PBMs) and 340B Program* expansion are the top challenges for contracting teams at biopharma companies this year.

Key Points: 
  • The report, based on biopharma companies in varying stages of development, finds that uncertainty of government pricing policies, evolution of pharmacy benefit managers (PBMs) and 340B Program* expansion are the top challenges for contracting teams at biopharma companies this year.
  • Specifically, people are concerned about the uncertainty around implementation timelines, operational aspects, and overall legitimacy of this legislation.
  • *The 340B Drug Pricing Program is a US federal program that requires pharmaceutical companies to give steep discounts to hospitals and clinics that serve high volumes of low-income patients.
  • Trinity Life Sciences is a trusted strategic commercialization partner, providing evidence-based solutions for the life sciences.

Transaction Data Systems Releases Alternative to Prescription Savings Cards With New In-App Drug Pricing Solution for Rx30 and WinRx

Retrieved on: 
Tuesday, February 23, 2021
Professional services, Data management, Health, Technology, Software, Finance, Pharmaceutical, Marketing, Pharmacy, Drug pricing, Competition, Pricing, Compounding, Medication costs, Rebate

Transaction Data Systems (TDS), the leader in pharmacy software solutions and services, today announced the release of RxCashAssist, an in-application drug pricing solution.

Key Points: 
  • Transaction Data Systems (TDS), the leader in pharmacy software solutions and services, today announced the release of RxCashAssist, an in-application drug pricing solution.
  • Hidden fees and decreased margins greatly impact the revenue of our client base, states TDS President, Kevin Lathrop.
  • Increased costs have led to a rise in manufacturers rebates and various discount card programs compounding the complexity of prescription pricing and pharmacy profitability.
  • Through RxCashAssist our community pharmacies gain the pricing transparency they need to offer discounted pricing and positively impact patient outcomes.

Famulus Launches to Deliver Transparency and Savings on Drug Pricing to Health Plans and Employers

Retrieved on: 
Thursday, February 11, 2021
Drug pricing, Medication costs, Pharmaceutical industry, Pharmacy

BLUFFTON, S.C., Feb. 11, 2021 /PRNewswire/ -- Famulus Health recently launched to provide health plans and employers with lower drug prices by leveraging access to cash networks in the US.

Key Points: 
  • BLUFFTON, S.C., Feb. 11, 2021 /PRNewswire/ -- Famulus Health recently launched to provide health plans and employers with lower drug prices by leveraging access to cash networks in the US.
  • Famulus partners with some of the largest networks in the US to take advantage of cash pricing at scale.
  • "For insured consumers to get cash pricing at the pharmacy is cumbersome today," says Mike Szwajkos, Founder and CEO of Famulus Health.
  • The launch of Famulus is a major step toward delivering transparency and more access to better healthcare at a lower cost."

Better Insight and Management of Effective Rate Contracts Helps Independent Pharmacies Improve Performance

Retrieved on: 
Tuesday, February 9, 2021
Insurance, Medical Supplies, Other Retail, Professional services, Small business, Other Health, General Health, Pharmaceutical, Health, Retail, Medicinal chemistry, Symbols, Pharmacies, Applied sciences, Articles, Branches of science, Independent pharmacy, Drug pricing

For independent pharmacies already facing the challenges brought by a global pandemic, reimbursement models like Effective Rate Contracts can further threaten their stability when their services are needed most.

Key Points: 
  • For independent pharmacies already facing the challenges brought by a global pandemic, reimbursement models like Effective Rate Contracts can further threaten their stability when their services are needed most.
  • Pharmacy First recently published a white paper that explores the management of Effective Rate Contracts to help independent pharmacies improve overall performance.
  • The PSAO has also created tools enabling member pharmacies to monitor the Effective Rate Balance during the contract term and gain visibility to problem drugs.
  • We are committed to supporting pharmacies to stay financially and operationally successful as they work through the special challenges of Effective Rate Contracts.

Verity Solutions #1 for 340B Management Systems for Fourth Year in a Row

Retrieved on: 
Friday, February 5, 2021
Health Resources and Services Administration, Drug pricing, 340B Drug Pricing Program

KIRKLAND, Wash., Feb. 4, 2021 /PRNewswire/ --Verity Solutions has been recognized as Best in KLAS for 340B Management Systems (3+ Covered Entities) in the Best in KLAS: Software & Services report , released on February 2, 2021.

Key Points: 
  • KIRKLAND, Wash., Feb. 4, 2021 /PRNewswire/ --Verity Solutions has been recognized as Best in KLAS for 340B Management Systems (3+ Covered Entities) in the Best in KLAS: Software & Services report , released on February 2, 2021.
  • This is the fourth consecutive win for Verity Solutions, the only organization in the 340B Management Systems category to accomplish this.
  • Verity 340B is one of the most comprehensive 340B program management solutions available for covered entities allowing hospitals, IDNs, Community Health Centers, FQHCs, and their retail pharmacies to quickly and easily scale their 340B program.
  • Hundreds of health systems rely on Verity Solutions to simplify their 340B program administration, optimize federal pricing benefits, and leverage their expert team.

Hospital Practices Increase Costs of Medicines for Patients & Employers, New Report Shows

Retrieved on: 
Thursday, February 4, 2021
Drug pricing, Health Resources and Services Administration, 340B Drug Pricing Program, Pharmaceuticals policy, Prescription drug prices in the United States

Specifically, the report documents how hospital markups, consolidation, the site of care in which a medicine is administered and the 340B program impact the cost of medicines and health care spending.

Key Points: 
  • Specifically, the report documents how hospital markups, consolidation, the site of care in which a medicine is administered and the 340B program impact the cost of medicines and health care spending.
  • "Many actors including hospitals, insurers and other middlemen influence what patients pay out of pocket for prescription medicines.
  • Key findings from the report include:
    Hospitals often inflate the cost of medicines administered to commercially insured patients in outpatient settings.
  • Hospital consolidation often forces patients to shift their care to less efficient, more costly settings without any corresponding increase in the quality of care .

Record-Breaking Prescription Medication Price Hikes from Drug Makers

Retrieved on: 
Thursday, January 28, 2021
Health sciences, Health, Pharmaceuticals policy, Drug pricing, Pharmaceutical industry, Pharmacy, Clinical pharmacology, Medication costs, Prescription drug, Medicare, Medication, Medical prescription

After significant price hikes from drug makers, more Americans than ever are looking to online Canadian pharmacies for more affordable and convenientaccess to prescription medications

Key Points: 
  • After significant price hikes from drug makers, more Americans than ever are looking to online Canadian pharmacies for more affordable and convenientaccess to prescription medications
    SURREY, BC, Jan. 28, 2021 /PRNewswire/ - The Trump administration worked to lower drug prices by signing four executive orders, which included one on importing medications from Canada.
  • He has said he plans to address the high prices Americans pay for prescription drugs with proposals that include allowing the government's Medicare program to negotiate costs, letting patients import drugs from abroad and linking price hikes to inflation."
  • While most Americans' attention is focused on battling the COVID-19 pandemic, behind the headlines, drug makers have been raising their prices on brand-name prescription medications.
  • An expected result of the recent price hikes is that more Americans will seek alternative solutions to find the drugs they need at a price they can afford.

TailorMed and the Patient Access Network (PAN) Foundation Launch New Initiative to Reduce Financial Barriers for Low-income Medicare Beneficiaries

Retrieved on: 
Tuesday, January 19, 2021
Drug pricing, Medication costs, Pharmaceutical industry, Pharmacy, Out-of-pocket expense

"We are excited to partner with PAN to remove patient financial barriers to care," said TailorMed CEO Srulik Dvorsky.

Key Points: 
  • "We are excited to partner with PAN to remove patient financial barriers to care," said TailorMed CEO Srulik Dvorsky.
  • By partnering with PAN, we hope to alleviate some of the financial hardship for individuals and families who need it the most."
  • "Even with financial assistance for their out-of-pocket medication costs, many of our patients still face significant financial barriers to care.
  • The PAN Foundation is one of the largest U.S. charitable organizations providing financial support to underinsured patients.