Drug Lobby Calls For Scrutiny Of Outside Group That Makes Drug Pricing Recommendations
The goal of the Institute of Clinical and Economic Review is to develop an independent pricing system. But a global pharmaceutical lobby questions its ties with insurers. In other news, Medicare Part D spending on compounded drugs jumps 600 percent and startup Blink Health says it helps patients obtain medications more cheaply.
New Shots Fired In Drug Pricing War
The pharmaceutical industry is opening a new line of attack against health insurers in the escalating battle over drug prices. Global drug lobby the Biotechnology Innovation Organization (BIO) is accusing insurance companies of funneling cash into a little-known outside group that recommends its own drug prices with hopes of driving down overall costs. (Ferris, 6/22)
Medicare Part D Spending On Compounded Drugs Is Skyrocketing
As federal regulators try to crack down on compounding pharmacies over safety concerns, a new report finds that spending by the Medicare Part D program for these medicines rose more than 600 percent over the past decade. And federal auditors say the trend raises questions about whether the drugs, which are customized for specific patient needs, were medically necessary or dispensed appropriately. (Silverman, 6/22)
Company Offers Patients Cheaper Way To Obtain Prescription Drugs
A New York startup company wants to make the process of obtaining prescription drugs easier and cheaper for patients across the nation— including those people who don’t have health insurance. Blink Health, founded by brothers Geoffrey and Matthew Chaiken, boasts savings of up to 95 percent on more than 15,000 different medications including Prilosec, Propecia and Xanax. (6/23)