As controversy continues over prescription drug pricing, a new study finds that Medicare Part D spent $2 billion more for brand-name medicines in 2015 than four years earlier, even though drug makers offered rebates to win favorable coverage from health plans.
Specifically, reimbursement to pharmacies for more than 1,500 brand-name medicines rose 19% from 2011 to 2015, while manufacturer rebates offered Medicare Part D plan sponsors increased 4% during that time, according to the Office of Inspector General of the Department of Health and Human Services, which ran the analysis in response to a request from Congress.
Drug rebates,which really aren’t rebates, they’re payoffs for a better placement on formulary is a cash cow that keeps on giving milk to the PBM’s. No one can figure out how much of this so called
drug rebate the PBM’s keep. If the PBM’s have nothing to hide why won’t they be transparent with
anyone? I would say they have something to hide. PBM’s use this bogus AWP price to make it sound
as though they’re saving their clients so much money, when in fact their spread pricing system is
another shell game to steal money. OIG finally sees that this drug rebate is a scam. I hope to god they pull back the blanket and uncover the truth about the PBM’s.
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