This is a single example of where the $$ goes that the pt hands over at the Rx counter. If anyone has noticed, all of sudden the PBM industry is now advertising on TV claiming how much money they are saving people.
When I first started working in a pharmacy back in the summer of 1968. There was no PBM industry, and 90 %+ of all prescriptions were BRAND NAME, and the average Rx price was in the $4-$5 range. The PBM industry came around at the end of 1969. Today, 85 % + of Rxs are generics, and 85 % of Rxs are paid for by PBMs. The average Rx price today is in the $70 range. If the PBM industry had not gotten involved in the prescription business, and nothing had changed, the average Rx price would be around $40. If we just had the change of brand names to generics at the same percentages, the average Rx price would probably be in the $25-$30 range. Just imagine if we didn’t have the PBM to save us money and require prior authorizations, mandatory generic substitution, step therapy, day’s supply limitations, and numerous other things that do nothing to improve a pt’s therapy and QOL.
Filed under: General Problems
I don’t like generic drugs. No matter what anybody says, they just don’t work as good as the Name Brand does!