As the spotlight on drug pricing continues to grow, some companies are working to develop new strategies to reduce drug launch prices, according to a Managed Healthcare Executive (MHE) report.
A recent decision by CVS giving plans the green light to drop drugs above a certain price point is one such step in that direction, Numerof & Associates Managing Partner Michael Abrams tells MHE.
“Launch prices have been rising in recent years, and it’s promising that some businesses are taking steps to combat this,” he said.
Willis Towers Watson’s Nadina Rosier says some executives are having difficulty developing innovative solutions to pull back on prices, especially with specialty drugs.
“New-to-market drugs carry costs as high as $1 million per patient annually, not including additional lab and monitoring tests with hefty fees,” she tells MHE. “There is continued burden for executives to look at various options that limit or redefine patient access to services and channels, steering members to lower cost drugs, pharmacies, and sites of care.”