April 25, 2016
US drug pricing is broken — let’s work together to fix it
The Campaign for Sustainable Rx Pricing, which includes Prime Therapeutics, unveils policy platform.
"Soaring drug prices are a very real issue for many Americans -- sometimes even detrimental to patients. Everyone in the industry needs to work toward solutions that help people get the medicine they need at a price that is affordable and sustainable."
– Jim DuCharme, President and CEO, Prime therapeutics
It’s no secret that drug prices in the United States are too high — and they’re sharply rising. But why? Because the current market for pricing drugs in the United States is broken. This system is unsustainable — not only for families but also for American businesses and our economy, state, and federal governments.
That’s why Prime is proud to be an active member of the Campaign for Sustainable Rx Pricing (CSRxP). With a mission to foster and inform the debate on sustainable drug pricing, CSRxP is bringing together a diverse coalition of doctors, hospitals, pharmacists, employers, health plans, seniors, patients, consumers, and others to address the problem and find common ground on solutions.
This week, CSRxP announced specific proposals to lower prescription drug prices in the United States. Anchored on three pillars — transparency, competition and value — the proposals aim to restore a functioning market.
- Transparency allows consumers to compare drug prices and clinical information relative to other therapies, so they know what works best. The highest priced drug isn't always the most effective. This information and data is important to helping patients, doctors, employers, and others make the most informed decisions.
- Competition can help drive down prices and offer more choice in treatment options. We can use existing approval processes to fast-track new drugs to market sooner, especially for expensive treatments that have no alternatives.
- And pricing drugs based on the value of how drugs they work can help evolve our health care system to deliver more coordinated care and reward outcomes that improve health and lower costs.
Simply put, we can make the market work by promoting innovation and affordability. It’s not an either/or equation. We can and must do both.
The issue of drug pricing affects all of us. The CSRxP is taking action. See our recently unveiled policy platform and more about how we’re helping to rein in drug costs at csrxp.org.
About Prime Therapeutics
Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Headquartered in St. Paul, Minn., Prime serves nearly 26 million people. It is collectively owned by 13 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Prime has been recognized as one of the fastest-growing private companies in the nation.
Follow @Prime_PBM on Twitter.
About the Campaign for Sustainable Rx Pricing
The Campaign for Sustainable Rx Pricing (CSRxP) is a project of the National Coalition on Health Care Action Fund. The Campaign represents a diverse set of health care stakeholders committed to sustainable prescription drug pricing and includes organizations representing hospitals, physicians, pharmacists, nurses, consumers, patients, employers and health plans. Visit www.CSRxP.org and follow CSRxP on Twitter.