Life sciences organizations have access to more data than ever before. When they leverage that existing data during their research and development (R&D) process, organizations can drive more efficient drug development.
Innovation and regulatory approval…
More than a decade after the Affordable Care Act was signed into law, U.S. healthcare costs continue to spiral at rates unseen in the rest of the developed world.
But while healthcare costs overall are…
Pharmacy benefit managers (PBMs) are being targeted yet again by the government. James Comer (R-Ky), House Committee on Oversight and Accountability chairman, launched an investigation Wednesday into PBMs and their “tactics that are harming…
Continue Reading
Editor’s note: This story is based on discussions at Abarca Forward, a conference in San Juan, Puerto Rico, hosted by Abarca Health, a pharmacy benefit manager. MedCity News’ Editor-in-Chief Arundhati Parmar and Senior Reporter Katie Adams were invited to attend and speak at the conference. All travel and related expenses for…
Continue Reading
Editor’s note: This story is based on discussions at Abarca Forward, a conference in San Juan, Puerto Rico, hosted by Abarca, a pharmacy benefit manager. MedCity News’ Editor-in-Chief Arundhati Parmar and Senior Reporter Katie Adams were invited to attend and speak at the conference. All travel and related expenses for the team were covered by Abarca. However, company officials had no input in editorial coverage.
The U.S. healthcare systems spent a whopping $301 billion on specialty drugs in 2021, a 43% increase since 2016. These specialty drugs accounted for half of the year’s total drug spending, and the list prices for specialty…
Pharmacy Benefit Managers (PBMs) took a hit from lawmakers during a Thursday hearing held by the Senate Commerce Committee, with some questioning why the drug middlemen are even necessary.
“The way I see the situation on PBMs, I don’t know why the hell they even exist,” said Sen. Jon Tester, D-Montana. “They were set up with all the right reasons … But what I see them doing in my state, I don’t think the consumer gets much benefit and they’re shutting down small businesses on main street right and left and those are called our local neighborhood pharmacies.” The hearing discussed how…
The U.S. Department of Health & Human Services (HHS) unveiled three new models Tuesday that will be tested by the CMS Innovation Center and aim to lower prescription drug costs. The models include access to $2 generic drugs.
The news is in response to President Joe Biden’s executive order issued in October, which directed HHS to find ways to lower prescription drug costs and improve access to drug therapies for those enrolled in Medicare and Medicaid health plans. The models are meant to build on the Inflation Reduction Act of 2022, which includes allowing Medicare to negotiate lower prescription drug prices for…
