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submitted 7 months ago by MicroWave@lemmy.world to c/news@lemmy.world

CVS is revamping the way it reimburses its pharmacies for prescription medications, a move that could make prescription drug pricing simpler and change how much consumers pay for their medicines.

The company said in an announcement Tuesday that its new pharmacy reimbursement model will bring more transparency to its drug pricing system. It’s a similar model to the one entrepreneur Mark Cuban is pushing with his Cost Plus Drugs company.

Currently, the prices customers pay for drugs and the payments pharmacies receive are largely determined by middlemen known as pharmacy benefit managers, which negotiate rebates from drug manufacturers to insurers. These complex reimbursement formulas aren’t directly based on what pharmacies spent to purchase specific drugs.

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[-] Mamertine@lemmy.world 38 points 7 months ago

The health system as whole is messed up.

Pharmacy seems to take it to the next level. I'm baffled how a coupon printed from some random website gives me a cheaper prescription than my generally good employer sponsored health insurance.

My doctor prints these coupons (no login just a regular website) at the visit and tells me to make sure my insurance is actually cheaper than this stupid piece of paper makes the drug. Wtf man, how did we get here?

The one sane spot is Costco. The drugs are always cheap there. It's just Costco is a pain in the ass to get in and out of quickly.

[-] Ghostalmedia@lemmy.world 3 points 7 months ago

Hotdog, soda and insulin combo: $1.50

[-] Zombiepirate@lemmy.world 2 points 7 months ago

My doctor prints these coupons (no login just a regular website) at the visit and tells me to make sure my insurance is actually cheaper than this stupid piece of paper makes the drug. Wtf man, how did we get here?

It's because those sites sell your data that they get from processing the payment.

this post was submitted on 06 Dec 2023
71 points (98.6% liked)

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