A Solution to the Generic Drug Price Inflation: Compound Alternatives
Over the past two years, the pharmacy industry has seen an an unprecedented surge in generic pricing, which has led to an unexpected increase in cost for many key stakeholders in the pharmaceutical supply chain. Under high generic drug prices, patients face higher copays and even decline their medications due to increased out-of-pocket costs. Plan sponsors struggle with higher drug spend and pharmacies receive inadequate reimbursements. Meanwhile, prescribers and pharmacists are switching disgruntled patients to alternative drug therapies, while plan sponsors scurry around to save on costs. PBMs and plan sponsors are now seeking guidance from local compounding pharmacists in search of compound alternatives. These alternatives are for medications that are on short supply, no longer on the market, and whose prices have been excessively inflated. Products such as Daraprim, oral vancomycin, Zovirax, and colchicine, are just a few examples of such medications that contain a compounding alternative in today’s market place.
This webinar presents results from compound alternative programs using claims information.
Del Doherty, PharmD, PhD, MPH, Vice President of Managed Care, PersonalMed, LLC
Angela Van Dyke, MHA, CPhT, National Sales Manager, PersonalMed, LLC
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