As the pharmacist compared his records to the county, he saw that CVS was paying him $6 for a bottle of pills, then billing the county almost $200. What was it doing with the more than $190 in between?
This, by and others, is an amazing look at the PBM practice of spread pricing.
Holy f*ck "For the 90 drugs analyzed, which includes more than 500 dosages and formulations, PBMs and pharmacies siphoned off $1.3 billion of the $4.2 billion Medicaid insurers spent on the drugs in 2017." I'll work for free to solve this w/ you
To understand how pharmacy benefit managers make money off spread pricing, we crunched millions of rows of pricing data from around the U.S. Here's how it works:
Manufacturers aren't the only ones raising prices on drugs by huge percentages. Take a look at pharmacy benefit managers' markups.
"For many widely used generic drugs, state insurance plans are collectively paying millions of dollars in fees to private companies." Great data reporting & stellar job honing in on impact of PBM spread pricing via , ,
Kristin Bass of PBM trade group PCMA asked about story and says spread pricing is permitted in contracts and needed because it allows for revenue streams for PBMs #FTPharmaPricing
This is the secret drug pricing system middlemen use to rake in millions
Bloomberg shines the light on Rx drug “spread” pricing
A good analysis showing how pharmacy benefit managers — middlemen like CVS and Express Scripts — manipulate generic drug prices and reap big gains.
This is the secret drug pricing system middlemen use to rake in millions
“In Iowa, Wapello County is now buying the jail’s drugs directly from Frahm’s pharmacy after discovering that in some months it was paying CVS over $4,500 a month, while the company was reimbursing the pharmacy about $1,500”
This is the secret drug pricing system middlemen use to rake in millions via
it's early, but this is a strong contender for best story of 5779
Sen. said he and have asked HHS' inspector general to look into PBM spread pricing. Here's what that means
"In an analysis of pharmacy and middleman markups in Medicaid plans around the country, Bloomberg found big spreads on dozens of drugs, and evidence that the spreads are growing."
RT : “So why was CVS charging almost $200 for a bottle of pills that it told the pharmacy was worth less than $6? And what was the company doing with the other $192.49?” #PBMs
Secret #drugpricing, mark-ups, spread pricing - the black box of middlemen in #drugcosts. What excuse does the pharma industry, pharmacies and distributors have for this? Probably tip of the iceberg. #healthcarecosts
Must read infographic on how middleman rake in millions from US drug pricing Congrats to & Jackie Gu
“Middlemen have to make some money, but we didn’t expect it to be this extreme.... We figured everyone was playing fair.”
This is extremely well done.
“Middlemen have to make some money, but we didn’t expect it to be this extreme” How PBMs make loads of cash - explained by &
One of the contentions by the PBMs is that spread pricing examples are cherry picked. So we looked at a LOT of drugs. You can explore drug-by-drug in Ohio here: