The Patient Right to Know Drug Prices Act Passes Through Legislation
Throughout September and October 2018, the government enacted laws and issued proposed guidance aimed at the prescription drug market. These bills and regulatory actions follow the Trump administration’s “American Patients First” blueprint, with the objective to bring down prescription drug prices and out-of-pocket costs, along with combating the Opioid epidemic. One of the bills prohibits “Gag Clauses” in Pharmacy Contracts. The Patient Right to Know Drug Prices Act will overturn the current practice of insurance plans and/or PBM’s prohibiting pharmacists from disclosing the lower cash price to the one enrolled.
Cash Price Example below formulary:
PBS recently ran a piece that told the story of a woman who was prescribed Telmisartan to control blood pressure. Her and her husband were going on a trip and she was running out of her 90 day $285 supply so her husband went to Costco and found out the cash price would be $40.
To learn more about the new legislation that provides more transparency for situations like the one above, download the full article below. And if you have any questions feel free to contact us here at Cambridge