CEO DATELINE - Pharmaceutical, insurance industries duel on medicine prices
CEO DATELINE - Pharmaceutical, insurance industries duel on medicine prices
- March 28, 2018 |
- Walt Williams
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Two groups representing the pharmaceutical and health insurance industries are once again arguing about which sector is responsible for rising drug prices.
Pharmaceutical Research and Manufacturers of America launched an ad campaign Tuesday putting much of the blame on insurance companies and pharmacy benefit managers. The association specifically pointed to copay accumulator programs, which "block the copay coupons biopharmaceutical companies offer for some medicines from being applied to deductibles and out-of-pocket maximums."
"Copay accumulator programs are nothing more than an insurance scheme that leave patients financially exposed while benefiting payers' bottom lines," PhRMA CEO Stephen Ubl said.
PhRMAs "Let's Talk About Cost" campaign will run ads in print, radio, digital and social channels in Washington, D.C., and select states. https://onphr.ma/2Gio675
America's Health Insurance Plans shot back Tuesday with a blog post by COO Matt Eyles, who will become CEO of the health insurance association in June. He said health insurance providers and pharmacy benefit managers "are fighting for consumers like you" by negotiating with pharmaceutical companies for lower drug prices.
"More and more, consumers are finding out just how high the prices are for their medications—and they're not happy," Eyles said. "So, it's no surprise Big Pharma, the one and only player who sets those prices, is trying to cast blame elsewhere." http://bit.ly/2us75lt
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