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.

VativoRx Joins MHA: A New Chapter Begins

The world of healthcare is dynamic, continuously evolving with new challenges and opportunities. At VativoRx, we’ve always believed in the power of innovation, collaboration, and dedication to ensure that we provide the best rebate management solutions in the industry. Today, we’re thrilled to announce our latest milestone: VativoRx is now an official associate member of the Michigan Health & Hospital Association (MHA)!

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Unveiling the Future: Navigating the Evolving Landscape of 340B Rebates.

The 340B Drug Pricing Program, established in 1992, has been a crucial component of the healthcare system, dedicated to assisting eligible healthcare organizations in serving vulnerable patient populations by granting them access to discounted drugs. At the heart of this program are the 340B rebates, which enable qualifying entities such as safety-net hospitals, community health centers, and other eligible providers to acquire medications at significantly reduced prices.

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Humira – The End of an Era

In January 2023, the first biosimilar version of Humira, which is a widely used injectable drug for inflammatory diseases, was approved, marking the end of AbbVie’s two-decade market exclusivity. Humira is used to treat conditions like rheumatoid arthritis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis, and it works by targeting certain proteins in the immune system.

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Biosimilars — Similar But 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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