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Phake or Phact - CHAIN

CHAIN

PHAKE or PHACT

CHAIN Phake or Phact

The Berkeley Research Group breaks down the flow of dollars in the pharmaceutical marketplace within the US healthcare system, which involves a variety of stakeholders, rebates, discounts, fees, and other payments. As the study supports, the stakeholders in the supply chain complicate and contribute to ballooning consumer costs.

Berkley Research Group Jan. 2022, The Drug Supply Chain https://www.thinkbrg.com/insights/publications/pharmaceutical-supply-chain-2013-2020/

CHAIN Phake or Phact

In this report, the Congressional Budget Office examines trends in nationwide spending on prescription drugs over the 1980–2018 period. The report also provides a more detailed analysis of trends in spending, use, and prices in the Medicare Part D (i.e. drug coverage) and Medicaid programs over the 2009–2018 period.

Congressional Budget Office Jan. 2022, Prescription Drugs: Spending, Use & Prices https://www.cbo.gov/publication/57772

CHAIN Phake or Phact

American consumers pay generous sums on much needed prescription medication. Yet drug companies are NOT raising prices outrageously nor are they profiting off their medication. What is going on? This Forbes opinion piece aims to inform consumers on a tricky and complicated practice used by Pharmacy Benefit Managers (PBMs), also known as middleman, that increases drug prescriptions costs for consumers despite efforts by drug manufacturers to stabilize prices.

Misleading comments about the cost of prescription drugs has many consumers confused, rightfully so. In this piece, Drug Channels aims to clear up and report on the facts. Drug Channels reports that brand-name drug prices continue to decline, while the prices of other healthcare products and services continue to rise. For 2021, brand-name drugs’ net prices dropped for the fourth consecutive year. Meanwhile, brand-name drug list prices grew more slowly than overall inflation.