Here are five points:
1. Some pharmaceutical companies, like Washington, D.C.-based PhRMA, don’t view the proposal favorably.
2. A PhRMA spokesperson argued price transparency for R&D alludes to future price controls.
3. With rising drugs costs, the idea involves understanding how much it takes to develop a drug to understand how much a company should charge for a drug.
4. Drug companies argue it’s not that simple. The companies consider three factors when pricing a drug: competition, the price consumers will pay and the value patients receive from the drug.
5. Drug companies are paid based on the patient outcomes their drugs provide. To them, focusing on R&D costs is missing the point.
More articles on coding, billing & collections:
National Medical Billing Services Lisa Rock named ‘Top Women Business Owners’ by SBM
Horizon BCBS of New Jersey awards physicians $3M in bonuses — 4 highlights
BCBS considers pulling out of ACA leaving nearly 300,000 North Carolinians hanging in the balance: 4 points
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
