Apr 3, 2023 | Lawsuits, News, Ohio, Pharmacy Benefits Manager (PBM), Prescription, Regulatory, State legislation
Ohio Attorney General David Yost has sued pharmacy benefit managers (PBMs) Express Scripts and Prime Therapeutics for conspiring to illegally increase prescription drug prices and force pharmacies to accept low reimbursement rates. Cigna Group and Humana were also...
Mar 21, 2023 | Brand Name Drugs, Diabetes, Drug costs, Generic Drugs, Insulin, Kurt Harden, MedBen Rx, MedBen University, Pharmacy Benefits Manager (PBM), Prescription
Earlier this month, drug manufacturer Eli Lilly announced that it cutting the cost of two of its prescription brand insulins, Humalog and Humulin, by 70%, and capping out-of-pocket costs for privately insured patients at $35 a month. Competing drugmakers Novo Nordisk...
Feb 1, 2023 | Legislative, MedBen Rx, Pharmacy Benefits Manager (PBM), Rx Costs
Pharmacy benefits managers (PBMs) are increasingly being called to answer for their questionable business practices at multiple levels of government. On the state level, in recent months: A major PBM has settled with Iowa and at least 14 other states for overbilling...
Dec 22, 2022 | Lobbying, Pharmacy Benefits Manager (PBM), Prescription, Spending
A review of the biggest spenders in health care lobbying by OpenSecrets reveals that, in the leadup to the 2021-22 election cycle, 16 of the top 25 lobbyists were pharmaceutical & health product organizations (see table below). The top health care lobbyist,...
Oct 18, 2022 | Cost Savings, Formularies, MedBen Rx, Pharmacy Benefits Manager (PBM), Rx Costs, Savings, White paper
Major pharmacy benefit managers (PBMs) use “smoke and mirrors” to make you believe they’re saving you money on prescription drugs: On the one hand, PBMs offer you administrative fee credits – fixed cost reductions that make up just a small portion of...
Aug 8, 2022 | Comparative Effectiveness, Formularies, MedBen Rx, Pharmacy Benefits Manager (PBM)
From Benefits Pro: “The median launch price of a new drug in the US soared from $2,115 in 2008 to $180,007 in 2021, a 20% annual inflation rate over the period, researchers at Harvard-affiliated Brigham and Women’s Hospital in Boston found.”Contributing to...
