The pharmacy benefits landscape may be shifting with the new Federal Trade Commission appointee Alvaro Bedoya. He should be the tie-breaker in the 2-2 gridlock that has plagued the commission. One of the stymied issues has been whether the FTC should move forward in its investigation into the cost of insulin.
RazorMetrics, an innovative healthcare technology company, recently conducted a consumer opinion survey asking about drug costs and found some surprising results. Despite the explosion in consumer-oriented drug savings options – mail-order pharmacy, discount cards, etc. – healthcare consumers want their physician to take the lead on lowering drug costs. The survey found that 80% of respondents would prefer their physician be the one to choose a lower-cost drug for their prescription and do so automatically.
In a recent article in Yahoo Finance, ‘As President Biden eyes drug pricing, expert laments ‘failure of democracy’. The article states that 25% of Americans can’t afford their prescriptions and one-third have skipped a prescription due to cost.
Pharmacists have been a godsend to many people looking for healthcare during COVID as they stepped up during the pandemic to offer COVID testing and vaccinations, a departure from traditional healthcare delivery. It’s paid off. As of Jan. 12, retail pharmacies participating in the Federal Retail Pharmacy Program have administered more than 215.9 million doses.
And, we are waiting…
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