The Department of HHS has released a regulation requiring direct to consumer ads for prescription drugs to contain the retail price (if the price is more than $35 a month).
When was the last time you went to the pharmacy and simply bought a prescription drug like buying a new toothbrush? The answer is never … because you need a prescription from your doctor. So what is the point of telling consumers the retail price of a drug? Virtually no one pays the retail price. Even patients with a high deductible plan pay the plans negotiated price, not the retail price, until the deductible is met.
Is telling patients a misleading price going to prevent them from filling a prescription or will they simply tell their doctor, no thanks, that drug is too expensive. I d o n ‘ t t h i n k s o. Confusion abounds.
“better able to make informed decisions and demand value from pharmaceutical companies.” what decision? To forego their medications? Informed decisions? Informed about what, a price that has no relevance?
This is nothing but more the patient as consumer bunk.
If we really want to change things, ban direct to consumer advertising. Why should we be encouraging patients to ask doctors to prescribe a certain drug (or any drug)?
HHS Finalizes Rule Requiring Manufacturers Disclose Drug Prices in TV Ads to Increase Drug Pricing Transparency
Less than a year after the release of President Trump’s American Patients First – PDF blueprint, HHS finalizes first rule implementing the blueprint, aimed at increasing transparency for patients and bringing down overall drug costs both for patients and for the Medicare and Medicaid programs.
On Wednesday, Health and Human Services Secretary Alex Azar announced a final rule from the Centers for Medicare & Medicaid Services (CMS) that will require direct-to-consumer television advertisements for prescription pharmaceuticals covered by Medicare or Medicaid to include the list price – the Wholesale Acquisition Cost – if that price is equal to or greater than $35 for a month’s supply or the usual course of therapy.
“Requiring the inclusion of drugs’ list prices in TV ads is the single most significant step any administration has taken toward a simple commitment: American patients deserve to know the prices of the healthcare they receive,” said HHS Secretary Alex Azar. “Patients who are struggling with high drug costs are in that position because of the high list prices that drug companies set. Making those prices more transparent is a significant step in President Trump’s efforts to reform our prescription drug markets and put patients in charge of their own healthcare.”
“Patients have the right to know the prices of healthcare services, and CMS is serious about empowering patients with this information across-the-board,” said CMS Administrator Seema Verma. “Today’s final rule is an important step toward achieving President Trump’s vision for lowering prescription drug prices by bringing much-needed pricing transparency to the convoluted market for prescription drugs. Equipped with information on prescription drug prices, patients will be better able to make informed decisions and demand value from pharmaceutical companies.”