A New York Times article examines the dramatic rise in U.S. prescription drug costs over the past two decades. American drug spending was once on par with other wealthy countries, but between 1997 and 2007 our drug spending tripled… and took off again in 2013. How come?
There are multiple reasons why drug costs and utilization are skyrocketing, such as the flood of new high-cost specialty drugs and targeted advertising. But as for why other nations spend less than us, the explanation is more straightforward: government price limits.
“Other countries decline to pay for a drug when the price is too high,” said Rachel Sachs, associate professor of law at Washington University in St. Louis. “The United States has been unwilling to do this.”
Whether Congress follows a similar path to control drug spending remains to be seen… but rather than wait for government answers, MedBen is finding its own solutions to help clients reduce their pharmacy spend.
Rather than follow the traditional pricing models that the national pharmacy benefits managers profit from, MedBen Rx goes the opposite direction. By taking away the ability to manipulate margin on the ingredient costs, what MedBen Rx pays reflects the drug’s real cost… no artificial markups.
Add in the fact that MedBen returns 100% of manufacturer rebates back to the client, and the answer is clear: MedBen Rx has the right solutions. Get more information by visiting MedBenRx.com or contacting Vice President of Sales and Marketing Brian Fargus at 888-627-8683 or bfargus@medben.com.