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PBMs

PBMs advocate for consumers and health plans to reduce Rx drug costs

PBMs advocate for consumers and health plans to reduce Rx drug costs

WASHINGTON — Pharmaceutical Care Management Association (PCMA) president and chief executive officer JC Scott Tuesday released the following statement on the Senate Finance Committee hearing, “Drug Pricing in America: A Prescription for Change, Part III:” “We applaud the Senate Finance Committee for holding today’s hearing and look forward to setting the record straight on the role

Moriarty addresses prescription drug affordability at Roll Call Live

Moriarty addresses prescription drug affordability at Roll Call Live

  WASHINGTON — In the midst of a very important discussion around prescription drug pricing in Washington, D.C., CVS Health sponsored an event earlier this week with CQ Roll Call titled “Empowering Patients as Partners in Health Care” to focus on the issue and the consumer experience in health care. At the event, policymakers and

Transparent pharmacy benefits needed

Transparent pharmacy benefits needed

NEW YORK — Now more than ever, the media landscape is turning an increasingly critical eye towards pharmacy benefit managers — the health care system’s favorite scapegoats. As health care costs continue to rise at staggering rates, these organizations can help their clients save on drug costs. However, it’s a complicated and confusing minefield in

Higher script volumes aid in Q1 gains for CVS

Higher script volumes aid in Q1 gains for CVS

WOONSOCKET, R.I. — CVS Health’s revenue was on the rise as it filled more prescriptions and benefited from a lower effective tax rate, the company said today in reporting its operating results for the three months ended March 31. The drug store chain said its first quarter revenue increased 2.6% to $45.7 billion from $44.5

CVS kept drug price growth almost flat for PBM clients in 2017

CVS kept drug price growth almost flat for PBM clients in 2017

WOONSOCKET, R.I. — CVS Health has reported that, in 2017, the company kept drug price growth nearly flat for its pharmacy benefit management (PBM) clients, at a minimal 0.2%, despite manufacturer price inflation near 10%. Overall, the combination of this nearly flat drug price growth, with low drug utilization growth of 1.7%, reduced drug trend

What’s the story with PBMs?

What’s the story with PBMs?

A lobbying event in Washington has triggered salvoes between two combatants: independent community pharmacies and pharmacy benefit managers. The National Community Pharmacists Association is holding its Congressional Pharmacy Fly-In advocacy drive this week, where it will also release “The PBM Story: What They Say, What They Do, and What Can Be Done About It,” offered

Senator: C-THRU bill ‘shines light’ on drug pricing

Senator: C-THRU bill ‘shines light’ on drug pricing

WASHINGTON — Sen. Ron Wyden (D., Ore.) has introduced the Creating Transparency to Have Drug Rebates Unlocked Act (C-THRU), aimed at bringing more visibility into prescription drug pricing by pharmacy benefit managers. The C-THRU legislation, initiated Wednesday in the Senate Finance Committee, would require PBMs serving Medicare Part D plans to disclose the aggregate rebates

Congressmen take aim at PBMs

Congressmen take aim at PBMs

A half-dozen congressmen pointed a finger at pharmacy benefit managers (PBMs) on the floor of the House of Representatives last week in an hour of comments on the high cost of prescriptions drugs, the National Community Pharmacists Association (NCPA) said in its Executive Update e-newsletter. In the session, Reps. Doug Collins (R., Ga.), Brian Babin

Trump: ‘Drug industry has been disastrous’

Trump: ‘Drug industry has been disastrous’

Donald Trump briefly touched on the pharmaceutical industry in his first major press conference since being elected president. In the news conference yesterday at Trump Tower in Manhattan, Trump talked about drug companies relocating overseas and referred to the rising cost of pharmaceuticals. “We’ve got to get our drug industry back,” Trump said after discussing

Walgreens, OptumRx build ‘new pharmacy solution’

Walgreens, OptumRx build ‘new pharmacy solution’

DEERFIELD, Ill. — Walgreens is partnering with OptumRx to create a new pharmacy benefit to meet consumers’ changing prescription drug needs and help employers, health plans and their members achieve better health outcomes and greater cost savings. OptumRx is UnitedHealth Group’s freestanding pharmacy care services business, managing more than a billion prescriptions annually. Through a

Congress eyes health insurer consolidation

Congress eyes health insurer consolidation

Congressional scrutiny of the recent health insurer mega-mergers is a welcome sight, according to B. Douglas Hoey, CEO of the National Community Pharmacists Association. This summer, health insurer M&As reached a peak with Anthem’s $48 billion purchase of Cigna and Aetna’s $34 billion acquisition of Humana. On Thursday, the House Judiciary Committee’s Subcommittee on Regulatory