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… benefit manager. This month the online pharmacy launched with a promise of only a 15% flat margin and pharmacist fee on 100 generic drugs. Cuban isn’t the first billionaire to try to solve the challenges of drug pricing. Amazon acquired PillPack in 2018 and announced its entry into retail pharmacy. Long before that, Walmart launched a $4 generic drug price in 2006. Tools like oneRx and GoodRx provide consumers with the ability to price compare the cost of medicines with or without insurance. Viewpoints from Craig Hasday Pharmacy cost can constitute 20% or more of employer healthcare spend and …

Our association with Pharmacy Strategies Group (PSG) has made me even more acutely aware of the importance of proactive pharmacy consulting in managing overall healthcare costs. For years, I have been writing in the abstract that specialty pharmacy costs are the fastest-growing component of healthcare expenses. Now, I feel like I am “armed for bear” with much more specific discussion points that give me greater insight into concurrent plan cost management. Viewpoints from Craig Hasday On June 24 (just days ago as I am writing this blog), the U.S. Food and Drug Administration (FDA) announced the approval of …

… escalate, payors are introducing new strategies to combat spiraling costs while balancing appropriate access. But costs continue to be shrouded in mystery with jockeying between the various intermediaries for a share of the profits. The rebate game has garnered focus as pharmacy benefit managers (PBMs) maximize rebate compensation (contributing to pharmacy cost inflation) while attempting to have tight reins on net costs. As drug costs go up, so do the rebates – increasing profits to the intermediaries in the transaction. The latest issue of Benefits Pro magazine highlights new versions of these maneuvers. Viewpoints from Craig Hasday With the rise of …

Viewpoints from Craig Hasday The market shuddered at the announcement of Haven Healthcare – the partnership between Amazon, JPMorgan Chase and Berkshire Hathaway. This powerful trio combined financial savvy with insurance and distribution expertise. Surely, they would meaningfully move the market. Well, so far – not so much. Healthcare indeed represents almost 20% of Gross Domestic Product (GDP), but it’s also true that the status quo is a powerful force, especially when combined with significant political lobbying clout adding to federal and state governmental pressure. It’s no wonder change is difficult to enact. When Amazon bought PillPack in June 2018 …

… per year of therapy, will represent almost 40% of new drugs. With favorable fast-tracking of approval, exorbitant prices, insulation from patent exposure and limited populations from which to draw a future class action, it’s not surprising that pharmaceutical research continues to focus on this area of drug development. Viewpoints from Craig Hasday Although these drugs have a high price tag, it’s clear they represent an opportunity for cost containment and avoidance of potential high-cost claimants.  A few of the more significant pipeline drugs include: A new lipid-lowering pill which is believed to be more desirable …