Aug 5, 2024 | Biosimilar, Cost Savings, Food and Drug Administration (FDA), Humalog, Opinions, Savings
From a STAT opinion piece by Juliana M. Reed, executive director of the Biosimilars Forum: “Biologic medicines are some of the most important drugs in the world. They are also among the most expensive. Biosimilars are FDA-approved treatments that are similar to...
Jul 5, 2024 | Biosimilar, Cost Savings, Drug costs, Humira, Idacio, MedBen Rx, News, Rx Costs, Savings
The Food and Drug Administration is considering a change to its biosimilar policy that would greatly speed up their approval process – which, if enacted, would be a big win for MedBen Rx clients who are already reducing their prescription drug spend through...
Apr 16, 2024 | Biosimilar, Cost Savings, Drug costs, Humira, Idacio, Prescription drugs, Rx Costs, Savings
Last year, MedBen Rx announced a new program that would enable clients to purchase Idacio, a biosimilar version of the anti-inflammatory therapy Humira – a drug that typically costs between $6,000 and $12,000 per month depending on the dose – for under $1,000 per...
Apr 1, 2024 | Benefits preservation, Comparative Effectiveness, Cost Savings, Drug costs, MedBen Rx, Pharmacies, Pharmacy Benefits Manager (PBM), Rx Costs, Savings, Specialty Drugs, Transparency
Employers are turning away from the “big three” pharmacy benefits managers to other PBMs that offer greater transparency and lower costs, says Wharton professor of health care management Lawton Robert Burns. As one of those alternatives, MedBen Rx is...
Dec 22, 2023 | Acquisition Cost Index (ACI), Cost Plus Pricing, Cost Savings, Drug costs, MedBen Rx, Pharmacies, Prescription drugs, Rx Costs, Savings, Spread Pricing
Spread pricing is the difference between what pharmacy benefit managers (PBMs) charge health plans for drugs and what the pharmacy actually pays for them. Often, this “spread” can be substantial, as PBMs profit greatly from their lack of transparency… so it’s not...
Oct 16, 2023 | Cost Savings, MedBen Rx, Pharmacies, Prescription drugs, Rx Costs, Savings
From a new report published by the U.S. Department of Health & Human Services: “Over the period from January 2022 to January 2023, more than 4,200 drug products had price increases, of which 46 percent were larger than the rate of inflation. The average drug...
