By Dr. Geoffrey Modest
The NY Times had an article on a couple of startups which have been able to find and post generic drug prices on the internet (see http://www.nytimes.com/2016/02/10/business/taming-drug-prices-by-pulling-back-the-curtain-online.html?emc=edit_th_20160210&nl=todaysheadlines&nlid=67866768 ).
Details:
- Most pharmacies do not list their drug prices, these prices can vary, the cost of meds is really different for insurance companies vs individuals (and the actual price negotiated by health insurers is “proprietary” and not accessible to us mere mortals)
- Ironically, the out-of-pocket cost for people without insurance can be extraordinarily high as compared to what insurers pay, similar to what happens with lab tests, hospitalizations, etc., since the big players can negotiate lower costs. Which leaves many more impoverished folks paying much higher costs for needed drugs, tests, hospitalizations…
- And, many consumers cannot even find out their costs till the purchase is rung-up on the cash register
- Perhaps the only good thing about sleazy drug companies making the news (e.g. Turing and its former malevolent leader Martin Shkreli) is that it brought the issue of usurious pricing/gouging into the public arena. See https://stg-blogs.bmj.com/bmjebmspotlight/2015/12/26/primary-care-corner-with-geoffrey-modest-md-the-drug-co-shenanigans-reach-new-heights/ for more info.
- There are a couple of new websites devoted to the issue of price transparency, including GoodRx, which publishes prices and accesses available coupons to help pay for drugs. And Blink Health, which allows people to pay online and pick up their drugs at a local pharmacy.
- A person from a national consulting firm found that the Blink Health prices were comparable to the prices he was able to negotiate for large employers: “it’s about as good as you’d see it”.
- As an example, a 30-d supply of atorvastatin costs $196 at KMart, $61 at Kroger, and is $12 with a coupon from GoodRx. Blink Health has it for $9.94.
- GoodRx and Blink Health get their prices from networks of pharmacy-benefit managers. Blink Health entered agreement with MedImpact and relies on their network of >60K pharmacies
So, I tried the website (blinkhealth.com) and it is: really easy to use, immediately gives a price, has a list of local pharmacies after I typed in my zipcode (including cvs, walgreens, and many others), allows for easy online payment, allows one to cancel the order anytime until it is picked up, has no additional cost when you go to the pharmacy (just what one pays to blink health), and works without any health insurance coverage (I have not really used this website, but the prices for some meds seem to be less than the copays for some insurances. So, this website should really useful for patients who either have very high copays or no insurance….)
- Not much discount when the med is one of the 10% prescribed in the US which is not generic
- Pretty shocking that until now there has been so little transparency in the drug market. Are hospitals, labs, etc. to follow??