GENERIC DRUG PRICES ON THE RISE

Generic Drugs Continue to Skyrocket in Price while Specialty Drugs Take Center Stage

On the minds of every employer today is the cost of specialty drugs, however as industry focus shifts, generic drugs are seeing a dramatic rise in costs. Turing pharmaceuticals and the Daraprim fiasco¬†brought to light a much larger problem. Martin Shkreli leveraged the ongoing trend of purchasing off-patent drugs in niche markets and dramatically raising prices after acquiring the medication. …

7214452872_3a272b5764_z

Co-Insurance for Medications: A New Trend for Consumers

As we brace for healthcare changes in the coming years, one particular trend that will negatively impact consumer out-of-pocket costs is the use of co-insurance (instead of a co-pay) for expensive specialty medications. Many consumers are accustomed to paying flat insurance co-pay amounts for various tiers of medications, with the highest tier generally capped at a co-pay between $50 and …

12669067945_e017b825c8_z

The High Price of Specialty Drugs: The Self-Insured burden and a cause for concern for HR managers

A new CVS Caremark report projects that specialty drug spend is expected to quadruple in 2020, reaching approximately $418 billion a year. Currently, specialty drug spend accounts for 30% of the total drug spend and by 2018, it will account for half of a companies drug spend. This article will discuss current challenges faced by self-insured companies when it comes …