News and notes from around the interweb:
- Kansas audited its $80 million CVS prescription plan, but it’s still shrouded in mystery. Kansas paid auditors $100,000 to dig into the more than $160 million it spent in 2018 and 2019 on prescription drugs for state employees, retirees and their families. But experts who follow the pharmaceutical industry say the resulting 16-page report doesn’t tell Kansas whether the health plan — or rather, the taxpayers and public employees who fund it — got a bargain or got gouged.
- How PBM “rebate walls” impact drug spending, patient care and competition. Federal agencies and plan sponsors—the clients of PBMs—are beginning to explore perverse PBM incentives and are waking up to abusive PBM practices.
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- Average Specialty Drug Price Reached $84,442 in 2020, Rising More Than Three Times Faster Than the Prices of Other Goods and Services. Retail prices for 180 widely used specialty prescription drugs increased by an average of 4.8% in 2020, more than three times the rate of general inflation for that same period (1.3%), according to AARP’s latest Rx Price Watch Report. This category generally includes drugs that are used to treat complex, chronic conditions and require special administration or handling.
- PBM Settles Two Pharmacy Benefit Probes for $71 Million. The settlements, announced on Thursday in statements from the attorneys general in Illinois and Arkansas, are related to claims the pharmacy benefit management business inflated drug costs. The company has resolved similar disputes with Ohio and Mississippi and has reserved $1.1 billion to cover the claims.
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