There’s that word again: transparency

There’s that word again: transparency

When Mike Ferguson, President & CEO of the Self-Insurance Institute of America (SIIA) polled the audience recently at the organization’s Spring Forum, the number one topic attendees wanted to learn more about was price transparency.

No surprise, that. After all, the goal of health insurance and prescription drug plans is to make treatment available to the greatest number of people at the lowest possible cost.

Pricing transparency is a good idea that is also still a work in progress

Transparency is a big deal for us at VativoRx as well. Just last month we wrote about the topic:

“Both the government and PBM-driven efforts to create greater transparency toward the goal of lowering healthcare costs are moving quickly. Those efforts have begun to pay off in recent years – costs are already going down for prescriptions — and we expect that progress to continue through the 2020s.”

For more on pricing transparency and the PBM industry’s point-of-view, read our article, Using transparency to drive prescription costs lower.

Biosimilars — Similar But Not Identical

You may have never heard of biosimilar drugs and that’s probably because they are not commonly prescribed in the United States even though they have been around for over 20 years. So, what are biosimilar drugs? A biosimilar drug is no different in terms of safety and effectiveness than a biologic product, also known as a reference product, and while highly similar it is not identical.

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Lower Cost Prescription Drugs from Canada, Is It Legal?

In the early 2000s, the FDA set up guidelines in the Regulatory Procedures Manual (RPM) that permitted prescription drugs to be imported from other countries if the patient met very strict guidelines. Just stating that the patient needed the drug due to cost savings was not a justification to obtain the drug.

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