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Article: Protect your AWP settlement savings.(Drug costs)
- Article from:
- Employee Benefit News
- Article date:
- March 1, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Emil B. Kraft and Scott E. Rogers
An anticipated class-action settlement involving prescription medicine pricing could result in drug-spend savings of 0.7% to 1.6% for plan sponsors. Employers must beware, however, as some pharmacy benefit managers are attempting to reduce or eliminate the savings by changing pharmacy contracts.
Average wholesale prices - the base prescription drug prices from which PBM discounts are negotiated - are published by First DataBank and Medi-Span. The two firms currently are in the process of settling a class-action lawsuit that alleges they colluded with McKesson to inflate the AWPs of more than 450 prescription ...