Mar 21, 2023 | Brand Name Drugs, Diabetes, Generic Drugs, MedBen Rx, MedBen University, Pharmacy Benefits Manager (PBM), Prescription drugs, Rx Costs, Rx prices, Savings
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...
Feb 1, 2023 | Legislation, MedBen Rx, Pharmacy Benefits Manager (PBM), Rx Costs, Rx prices, Rx Spending
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...
Dec 22, 2022 | Lobbying, Pharmacy Benefits Manager (PBM), Prescription drugs, Rx 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 | Formularies, MedBen Rx, Pharmacy Benefits Manager (PBM), Rx Costs, Rx Spending, 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...
Aug 8, 2022 | Comparative Effectiveness, Drug marketing, Formularies, MedBen Rx, Pharmacy Benefits Manager (PBM), Rebates
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 these...
Jul 12, 2022 | Formularies, MedBen Rx, Pharmacy Benefits Manager (PBM), Rebates, Rx prices, Savings, White paper
MedBen Rx has prepared a whitepaper detailing the games pharmacy benefit managers (PBMs) play with administrative and rebate credits. PBMs focus on fixed cost savings to make you think you’re saving on prescription costs… but a closer look reveals that you’re...
