Morning Consult: Insurers, Drugmakers Want to Exchange Info on Specialty Drugs
There is a lot of disagreement about what to do about high drug costs. But in at least one case, frequent foes, insurers and drug companies, agree. Participants in both industries say that if they could communicate with each other before new drugs hit the market, it would ease the pain for insurers and patients.
Part of the reason drug spending is rising is because drug manufacturers are developing more specialty drugs for a small populations of patients. The chemical combinations are complex, therefore expensive, to make.
New drugs often hit the market after insurers have set their rates for the year. They say they aren’t able to plan for the new drugs ahead of time, which means either the insurance plans or the patients have to pay the price. The problem is on insurers’ minds now because they are in the process of setting their rates for next year.