A pharmacist puts medications on the shelves of his store. (Photo: viewfinder, via Shutterstock)OPINION: We’ve seen the stories of Pharma Bro, we’ve read about Big Pharma’s Q1 profit margins. What drug companies are trying to keep secret though, is Pay-for-Delay, a sneaky tactic that brand name and generic drug companies are using – and getting away with — that costs Americans $3.5 billion per year in higher health care costs.
A photo illustration of hospital billing. (Image: 9dream studio, via Shutterstock)OPINION: All of us in California should get behind the opportunity to protect patients from out-of-insurance-network health care bills. That’s why it is unfortunate that some in the Legislature want to couple this unifying issue of helping patients with other controversial and polarizing issues that threaten the outcome.
The pharmacy area in a Costco store in Folsom, east of Sacramento. (Photo: Cassiohabib, via Shutterstock)OPINION: The high costs of prescription drugs have rightly prompted concern from Californians and lawmakers looking for ways to bring down costs. Recently, both California and the federal government have taken positive steps to address this concern by increasing transparency. Still, more action is needed to reduce costs to consumers at the prescription counter.
A pharmaceutical worker examines drugs at a dispensary. (Photo: i viewfinder, via Shutterstock)The PBMs originated in the 1960s to help health plans, self-insured employers and government entities, among others, to negotiate prescription drug prices and efficiently distribute medications. Since then, they have evolved into a money-making industry without regulations, experts say. By one estimate, three major PBM companies had a staggering $270 billion in revenues in 2014.