TruTalk

www.truveris.com

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TruNews: October 2014

Catamaran to Acquire Salveo Specialty Pharmacy

Catamaran (CTRX) has announced it will acquire Salveo Specialty Pharmacy for $260 million in cash. Salveo is an independent specialty pharmacy company based in St. Petersburg, FL that manages $400m in annual drug spend and acquires, integrates, and grows specialty pharmacy organizations. 

Link to Article: Newswire

Related Article: PerformRx Launches New Specialty Pharmacy

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Lawmakers Probe ‘Staggering’ Price Hikes for Generic Drugs

A Congressional investigation has been launched into accelerating growth in some generic drug prices, asking 14 generic drug manufacturers for data around these skyrocketing prices. Two such drugs, albuterol sulfate (for asthma and lung conditions) and doxycycline hyclate (an antibiotic) experienced 3,845% and 9,145% respective price increases from October 2013 to April 2014. 

Link to Article: Wall Street Journal

Related Article: High Prices for Orphan Drug can be Sustained, a Payer Survey Shows

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U.S. Curbs on Inversions May Deter Some Pharmaceutical Deals

The U.S. has implemented many changes to the tax codes after the Treasury announced new curbs on restructuring assets overseas and completing mergers and acquisitions driven by international tax benefits. Many pharmaceutical inversion deals may be halted going forward, including Mylan’s intended purchase of Abbott assets and Medtronic’s purchase of Covidien. 

Related Article: NYTimes DealBook

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Just How Big is the Biosimilars Business Going to Be in 5 years?

A recent Thomson Reuters report predicts that by 2020, $25 billion in sales will come from biosimilars, out of $100 billion in sales for off-patent biologics. Expected price discounts for biosimilars are 20% to 30%. 

  Link to Article: FiercePharma

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Prepare for Health-Plan Enrollment

According to CBO estimates, Americans covered through the ACA will reach 13 million by the end of 2015, with the uninsured rate dropping from 16% to 13% this year. For this year, CMS will release a simpler application process with fewer screens and a shorter, three-month enrollment window. 

Link to Article: Wall Street Journal

  

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U.S. FDA Approves Gilead’s $94,500 Hepatitis C Drug

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A new hepatitis C pill, Harvoni, from Gilead Sciences Inc. has been approved to treat hepatitis C. At $94,500 for a 12-week course of treatment, Harvoni eliminates the need for two older treatments that have significant side effects to be taken along with Sovaldi. 

 Link to Article: Reuters

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DOJ Settles $6 Million Suit With Help of San Antonio Whistleblower

The U.S. DOJ settled a 7-year-old court case for $6 million with Caremark, alleged to miscalculate the amount repaid to Medicaid for prescriptions. The suit covered over a decade of government reimbursements and was aided by a San Antonio whistleblower. 

Link to Article: Texas Public Radio

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Truveris, Inc.
475 Park Avenue South | Suite 2950 | New York, NY 10016
Phone: 800.430.1430 | Fax: 646.365.3125
www.truveris.com

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Truveris Launches RxChoice, the Industry’s First Pharmacy Benefit Marketplace

RxChoice Lets Advisors Run Free Pharmacy Benefit Quotes from Top Vendors, Award Contracts

NEW YORK — Truveris, the leading pharmacy benefit pricing and analytics company, announced the first U.S. pharmacy benefit marketplace, RxChoice. Designed with pharmacy benefit brokers and health plan advisers in mind, RxChoice creates the ability to generate free pharmacy benefit quotes from the nation’s top vendors and award contracts in minutes, providing unprecedented transparency, access and significant time savings.

“We are very pleased with the traction RxChoice has seen out of the gate – running more than 150 quotes in the past 90 days, with extremely positive broker feedback.”

As brokers look to finalize PBM contracts in time to award plans with a January 2015 start date, the RxChoice marketplace is an invaluable tool in meeting the tight deadlines. RxChoice provides access to pre-negotiated contracts and highly competitive pricing in just a few simple steps, automating the formerly laborious process of selecting a pharmacy benefit manager (PBM).

In a rapidly evolving healthcare market, RxChoice will continue to streamline the complex pharmacy benefit selection process in 2015 with the addition of plan design modeling. Starting in Q1 of next year, brokers and advisors will be able to use RxChoice to identify plan improvements and savings opportunities by calculating the financial impact of plan design changes, access stop loss insurance and have insight into drug-level inflation.

"RxChoice builds naturally on our foundation of providing state of the art pharmacy benefit plan tools designed to help employers keep their benefit costs in check," said Bryan Birch, CEO of Truveris. "We are very pleased with the traction RxChoice has seen out of the gate – running more than 150 quotes in the past 90 days, with extremely positive broker feedback.”

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About Truveris

Founded in 2009, Truveris is a leader in bringing unprecedented efficiency, transparency and cost containment to the pharmacy benefit process through cloud based, SaaS solutions for PBMs, health insurers, benefit consultants and self-insured companies. An early innovator in the pharmacy benefit landscape, Truveris currently analyzes nearly 10% of the prescriptions in the U.S., giving Truveris unique insights into the issues and challenges of the $300 billion prescription drug industry in the U.S. Based in New York City, Truveris is funded by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round Capital.

To find out more about RxChoice or learn about Truveris’ other pharmacy industry products, please visit www.truveris.com. Follow us on Twitter and LinkedIn

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Full Press Release: http://bit.ly/1DwXbdF

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TruNews: September 2014

Truveris Launches RxChoice, the Industry’s First Pharmacy Benefit Marketplace

Truveris, the leading pharmacy benefit pricing and analytics company, announced the first U.S. pharmacy benefit marketplace, RxChoice. Designed with pharmacy benefit brokers and health plan advisers in mind, RxChoice creates the ability to generate free pharmacy benefit quotes from the nation’s top vendors and award contracts in minutes, providing unprecedented transparency, access and significant time savings. 

Link to Article: BusinessWire

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How Employers Are Managing Pharmacy Benefits in 2014

As in 2013, employers in 2014 are increasingly utilizing four-tier plans with considerable co-insurance. Still, 60% of employers use the three-tier design with generics, preferred brands, and non-preferred brands. 

Link to Article: Drug Channels

Related Article: Inside Express Scripts’ Narrow Network Strategy—and How It Beat Walgreens

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The “pay less, get more” era of health care

With increasing health care coverage and slowing growth in health care costs, Americans are beginning to pay less for health care and receive better benefits, compared to years past. Actuaries expect that health costs will grow more slowly over hte next 10 years than they did in the 1990s and 2000s.

Related Article: Cheaper drugs can also mean less choice without savings for patients

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Pharma Industry Sales To Hit $1 Trillion In 2014, Says CMR Report

A Thomson Reuters report projects that the pharmaceutical industry will reach an all-time record sales in 2014, at $1 trillion. Though this year’s growth rate declined from previous years due to patent expirations and generic drugs’ market domination, New Molecular Entities (NMEs) will likely help push 2014 sales up from the 2013 level of $980 billion. 

  Link to Article: Outsourced Pharma

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Gilead to raise price for new hepatitis C drug above $84,000

Gilead Sciences Inc will offer an even more expensive Hepatitis C drug, which is based on the $95,000 current cost that includes Sovaldi, ribavirin, and interferon. Gilead is expected to earn almost $12 billion in global 2014 sales.  

Link to Article: Reuters

Related Article: Mylan, Gilead partner to expand access to hepatitis C treatments

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$250 Billion in Biotech Drug Savings on Brink of Arrival

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14 expensive biotechnology medicines made of living cells are now facing generic rivals in the U.S. These new biosimilars could save $250 billion by 2024, even though they are not precisely copied from the original drugs. 

 Link to Article: Bloomberg

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High-deductible CDHPs part of ongoing cost containment strategy

Low-cost consumer driven health plans may help slow rising health care costs. Such plans kept health plan cost growth at 2.1% last year rather than a possible 5.9% without plan changes. 

Link to Article: Employee Benefit Adviser

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Truveris  |  Trust but Verify
475 Park Avenue South | Suite 2950 | New York, NY 10016
Phone: 800.430.1430 | Fax: 646.365.3125
www.truveris.com

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Truveris Launches RxDash, a Game-Changer that Allows Instant Price and Plan Design Modeling for Pharmacy Benefits Changes

NEW YORK, Aug. 25, 2014 /PRNewswire/ — Truveris, a premier pharmacy benefit pricing and analytics company, today announced the launch of RxDashSM, an enterprise platform for pharmacy plan repricing, modeling and reporting. A cutting-edge Software-as-a-Service (SaaS) solution, RxDash enables pharmacy benefit managers (PBMs), health insurers, consulting companies and plan administrators to view in real time the price impact of proposed benefits and price changes.

RxDash helps better meet today’s customer expectations by cutting out the traditional multi-week lag-time for insight into the plan design, pricing and member impact of potential modifications. For PBMs, health insurers and large consulting practices, RxDash calculates in real time how proposed benefit changes increase or decrease costs, illustrates how plan changes affect employees, and helps visualize the impact of step therapy and prior authorizations on plan costs. The robust reporting platform provides ad-hoc and recurring reporting to end clients.

"RxDash eliminates the manual processes that often can take four weeks to complete before employers can understand the impact of a plan design change," said Bryan Birch, CEO of Truveris. "RxDash immediately calculates the impact of changes so PBMs, brokers, consultants and administrators can make better decisions and ultimately serve their customers more efficiently and effectively. The pricing and reporting platforms are unlike anything available in the market today."

RxDash is the latest enterprise addition to the Truveris portfolio of tools designed to deliver unprecedented transparency, analytics and reporting to the pharmacy benefit industry, bringing clients new autonomy in making important benefit cost, design and procurement decisions. The fast-growing company’s cloud-based platform currently analyzes nearly 10% of the prescriptions in the U.S., giving Truveris unique insights into the issues and challenges of the $300 billion prescription drug industry in the U.S.

To find out more about this groundbreaking new cloud solution or to view Truveris’ other pharmacy industry products, please visit: www.truveris.com

About Truveris 
Founded in 2009, Truveris enables efficiency, transparency and cost management across the pharmacy benefit process through cloud based, SaaS solutions for PBMs, health insurers, benefit consultants and self-insured companies. Based in New York City, Truveris is funded by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round. For more information, visit truveris.com.

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Full Press Release: http://on.mktw.net/1vSaIau

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TruNews: August 2014

Which Drugs are CVS Caremark and Express Scripts Restricting?

CVS Caremark has excluded 95 medicines in 2015, as compared to 72 this year; while Express Scripts has excluded 66 medicines in 2015, up from 48 this year. Savings with these exclusions are expected to be $4.5 billion collectively for the PBMs. 

Link to Article: WSJ

Related Articles: Note to Big Pharma: Discounts work. GSK price cuts score Advair a payer boost

WellPoint Will Change Name to Anthem to Reach Consumers 

In order to align its company with the brand under which it sells the majority of coverage, WellPoint will change its name to Anthem Inc. WellPoint is the second-largest health insurance company in the U.S. and sells plans in 14 health exchanges, usually under its Anthem brand. 

Link to Article: Bloomberg

16% Of Large Employers Plan To Offer Low-Benefit ‘Skinny’ Plans Despite ACA: Survey

A new survey found that 16% of large employers plan to offer low-benefit health coverage that does not meet the ACA requirements for affordability and value. These “skinny plans” are allowed by ACA regulations; and may expand outside of industries that traditionally provide low-benefit coverage, like restaurant chains and hotels.

Link to Article: Kaiser Health News

AstraZeneca to Pay Almirall Up to $2.1 Billion for Respiratory Drugs 

AstraZeneca agreed to pay up to $2.1 billion for a suite of respiratory drugs from Almirall, a Spanish pharmaceutical manufacturer. AZ will own the development and commercialization rights to Almirall’s current respiratory business, including a treatment for chronic obstructive pulmonary disease, Eklira.

  Link to Article: NYT DealBook

Big Pharma is using its venture cash to outsource early R&D to biotech

Pharmaceutical companies are increasingly investing in biotech companies to outsource a portion of their own R&D work, bringing the corporate venture funding for biotech companies back up to 2008 levels. According to Silicon Valley Bank, this trend suggests there will be a rise in the number of M&A deals, with the largest deals likely to be worth more than $75 million upfront. 

Link to Article: FierceBiotech

Walgreen CEO: Leaving U.S. wasn’t in best interest of shareholders

In a $15.26 billion deal that keeps its corporate headquarters in the U.S., Walgreen has exercised its option to purchase the remaining 55% of Alliance Boots. Greg Wasson, Walgreen President and CEO, said that a corporate inversion was not in the best interest of shareholders. 

Link to Article: Chicago Tribune

Related Article: Walgreens and Alliance Boots to Combine; No Inversion For You!

Skeptical U.K. watchdogs decide to back Gilead’s Hep C star Sovaldi

While the U.S. and Europe payers have been skeptical about paying for Gilead’s Sovaldi, the U.K.’s National Institute for Health and Care Excellence (NICE) may end up approving Sovaldi. NICE criticized Gilead’s cost analysis and data in patients with particular subtypes of HCV.

Link to Article: FiercePharma

Related Opinion Article: UK Says Sovaldi is Worth It. We Should Listen.

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Truveris  |  Trust but Verify
475 Park Avenue South | Suite 2950 | New York, NY 10016
Phone: 800.430.1430 | Fax: 646.365.3125
www.truveris.com

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TruNews: July 2014

Prescription Auditing Service Truveris Raises $12.75 Million

Truveris has raised $12.75 million in a new round of funding led by Canaan Partners. Reviewing 300 million claims annually, Truveris software reviews bills received by payers for prescription fulfillment. 

Link to Article: TechCrunch

Related Articles: PR Newswire | Crain’s New York

   

Express Scripts Ends Coverage for 1,000 Compound Drug
Ingredients

Express Scripts is blocking coverage for about 1,000 active ingredients that are used by compounding pharmacists to create numerous topical treatments. Insurance does not cover many compounded medications, such as those used for cosmetic purposes. 

Link to Article: WSJ

Related Articles: Drugs Not Covered by Express Scrpts and CVS Caremark |
Health Insurers Pressing Down on Drug Prices

    

Drugmakers Shire, AbbVie near $53B merger

Shire, the pharmaceutical manufacturer of attention deficit hyperactivity disorder drugs Vyvanse and Adderall XR,  reported that its board anticipates recommending the $53 billion improved offer from Chicago-based AbbVie. AbbVie has offered £53.20 per share for Shire, and would grant Shire shareholders about 25% of the combined new AbbVie. 

Link to Article: USA Today

Related Articles: Abbott Labs to Sell Generic Assets to Mylan |
Roche Announces Definitive Agreement to Acquire Seragon Pharmaceuticals

    
Academic Witnesses Criticize PBM Compensation Disclosure
Mandates

The ERISA Advisory Council is considering this year whether to require PBMs to make disclosures on compensation and fees to employee health plan sponsors. More transparency is seen to improve vendor competition and plan sponsor administration of benefits. 

 Link to Article: RxObserver.com

Humana May Explore Co-Sourcing Deal, But Do Viable PBM
Partners Remain?

While there have been rumors that Humana Inc. might sell its PBM division to Express Scripts, CVS Caremark, or Catamaran for up to $7 billion, Humana President and CEO Bruce Broussard recently suggested that outsourcing might be on the table. Such an arrangement could create more efficiency while maintaining the advantages of an in-house PBM. 

Link to Article: AIS Health

  

Senate Committee is Investigating Pricing of Hepatitis C Drug

The U.S. Senate Finance Committee is investigating Gilead Sciences Inc.’s pricing of the Hep C drug Sovaldi, which costs about $84,000 per patient 12-week regimen. Senators Grassley and Wyden are scrutinizing the original Pharmasset Inc. pricing of the drug at $36,000 before Gilead acquired Pharmasset in 2011.

Link to Article: WSJ

     

Generic Drug Pricing Bill is Bipartisan Effort

Colorado House Bill 1213 aims to bring greater transparency to generic drug pricing by requiring PBMs to disclose the basis for determining MAC pricing in their contracts with pharmacies and to update pricing information every seven days. 

Link to Article: The Pueblo Chieftan

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Truveris  |  Trust but Verify
475 Park Avenue South | Suite 2950 | New York, NY 10016
Phone: 800.430.1430 | Fax: 646.365.3125
www.truveris.com

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Pharmacy Pricing & Benefits Analysis Platform Truveris Raised Another $12.75M

NEW YORK, June 27, 2014 /PR Newswire/ — Truveris, a leading platform for pharmacy pricing and benefits analysis, today announced it raised $12.75 million in a Series C Round financing.  Canaan Partners led the investment and was joined by existing investors New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round. Truveris will use the funds to scale the firm’s sales and marketing teams and further product development.  

"Truveris is solving one of the most critical issues facing the health care industry today: reducing prescription costs and providing better access," said Canaan Partners general partner, Stephen Bloch, who will join Truveris’ board. "With a sophisticated and comprehensive solution, the company offers the best analytical tools on the market to change the existing cost structure. To date, they have already saved their 200 customers and 30 million members millions of dollars.

Founded in 2009, Truveris offers unions, self-insured companies, government entities, health insurers, benefit consultants, and pharmaceutical manufacturers unprecedented transparency into pharmaceutical benefit costs, design and procurement. Doubling revenue each year, Truveris’ cloud-based platform currently analyzes approximately 10% of the prescriptions in the U.S. 

"Truveris continues to advance the management and access of pharmacy benefits, which is a $300 billion industry in the U.S. alone," said Michael Miele, Area President NY Metro Region for the international insurance brokerage and risk management services company Arthur J. Gallagher. "We utilize the latest technology from Truveris to evaluate and monitor prescription costs, which enables us to provide the highest level of service to our clients. Their plan design modeling and reporting tools are unlike anything available in the market today."

Truveris’ SaaS solutions include TruGuard®, a platform that audits the costs of prescription claims, TruBid®, a pricing platform for large companies to compare pharmacy benefit offerings from leading pharmaceutical benefit management companies (PBMs), and RxChoiceSM, which provides similar services for the mid-to-small market. Additionally, the company recently launched TruReport® and RxDashSM, which provide pricing and reporting suites for PBMs, health insurers and large consulting practices.

"There is an enormous opportunity to optimize pharmacy benefits management and design," said Bryan Birch, CEO of Truveris. "The market has not substantially changed in the past decade and we’re thrilled to be partnering with Canaan Partners and our existing investors to implement much needed improvements. With this funding, we will further develop our product portfolio to assist additional stakeholders in the pharmaceutical market including manufacturers and retailers resulting in improved consumer access and costs."

About Truveris

Founded in 2009, Truveris makes software to drive efficiency, transparency and cost containment in the prescriptions claims process. Truveris helps payers of pharmacy benefits negotiate agreements with Prescription Benefit Managers (PBMs), validate claim payment accuracy, ensure regulatory compliance, and manage pharmacy spend. Based in New York City, Truveris is funded by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round. For more information, visit truveris.com.

About Canaan Partners

Canaan Partners is a global venture capital firm that invests in entrepreneurs with visionary ideas. With $3.4 billion under management and over 150 exits to date, Canaan has funded some of the world’s leading technology companies including PrimeSense, Skybox Imaging and Virsto as well as healthcare stars like Labrys Biologics, Chimerix and Advanced BioHealing. Current investments include Kabam, Lending Club, and Zoosk for technology companies and Civitas Therapeutics, CytomX and DICOM Grid for healthcare. For more information visit www.canaan.com.

Other Investors

For more information on other investors visit:

www.nlvpartners.com – Series B lead
www.tribecavp.com
– Series A lead
www.navfund.com
www.firstround.com

SOURCE Truveris

RELATED LINKS

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PR Newswire

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TruNews: June 2014

Don’t overlook the value of claims auditing

Regular audits of pharmacy and medical claims can correct instances of duplicate billing, incorrect or missing discounts and rebates, mistakes in member eligibility, plan setup mistakes, and other problems. Audits also give plan sponsors the necessary information to revise contracts with TPAs and PBMs, leading to savings on top of possible recovery findings from the audit. 

Link to Article: Employee Benefit News

    

Allergan spurns Valeant again, but shareholders may have other ideas

Allergan, the manufacturer of Botox, has rejected Valeant’s increased bid for a second time. While Allergan’s board was unanimous in rejecting the bid, Valeant intends to go to shareholders with its latest $53 billion total offer.  

Link to Article: FiercePharma

    

Humana Pharmacy Benefit Unit Sale Could Fetch up to $7B

Humana is considering selling its pharmacy benefit management unit, which analysts expect could bring in $3.5-7.1B. Humana recently signed a distribution agreement with Wal-Mart for low-cost pharmacy access and could gain the ability to focus on other lines of business by selling the unit; perhaps to another PBM like CVS Caremark, Express Scripts, or Catamaran. 

Link to Article: Yahoo! Finance

    
Senate confirms Sylvia Matthews Burwell as new secretary of HHS

Sylvia Matthews Burwell, the White House’s budget director, has been confirmed as the Secretary of the Department of Health and Human Services. Burwell will oversee the 11 agencies comprising HHS, including NIH, CDC, FDA, and CMS. 

Link to Article: The Washington Post

Related Article: 4 million may pay PPACA penalty

    

Brokers on Record: What’s in a Name?

According to a recent report on benefit brokers, the title ‘Advisor’ is seeing an uptick in usage. ‘Agent,’ ‘Broker,’ and ‘Consultant’ rank highly as well. 

Link to Article: BenefitsPro

  

New Federal Guidelines on HIV Prevention Drug Could Add $ Billions to Drug Spending

In new clinical guidelines for providers published May 14, the U.S. Public Health Service recommends considering prescribing Gilead’s HIV drug Truvada for patients who are at high risk of contracting HIV but are currently HIV-negative. A key question in the feasibility of such an HIV prevention strategy is whether payers can sustain the price of Truvada: $13,000. 

Link to Article: RxObserver.com

     

Merck & Co to buy Idenix to boost hepatitis C drugs portfolio

Merck (MRK.N) announced its plan to purchase Idenix Pharmaceuticals Inc. (IDIX.O) for $3.85 billion to create synergies in producing hepatitis C treatments. Merck, paying $24.50 per share, aims to create a triple therapy ‘cure’ that would rival Gilead’s Sovaldi and cure all types of hepatitis C within 4-6 weeks. 

Link to Article: Reuters

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TruNews: April 2014

CVS Caremark Reports Traditional Drug Trend Increased by
Just 0.8 Percent in 2013 While Overall Prescription Drug Trend is Up 3.8 Percent

In its annual Insights report, CVS Caremark reports that overall prescription drug trend is up 3.8% in 2013, compared to 0.1% in 2012. Driving the growth were price inflation for brand, specialty, and generic drugs and higher utilization as members filled more scripts. 

Link to Article: PR Newswire

Related: Prices Soaring for Specialty Drugs, Researchers Find | Express Scripts Releases Annual Drug Trend Report, Raises Pressure on Gilead for Drug Price

Walgreen pressured to move headquarters to Europe

Pressure is mounting for Walgreen Co., the U.S.’s largest pharmacy chain, to relocate its headquarters to Europe. Walgreen owns nearly half of Swiss-based drugstore company Alliance Boots, whose executives are advising moving Walgreen’s headquarters for tax purposes. 

Link to Article: Chicago Tribune    

     

Truveris VP Kristin Begley, Pharm.D., is Honored by Samford University

Congratulations to Truveris VP Kristin Begley, Pharm.D., honored by Samford University for her contributions to the pharmacy benefit world. The Centennial of Coeducation initiative recognized women every day in March for their achievements. 

Link to Article: Samford University

    

CVS Caremark Awarded Integrated, 3-Year Blue Cross and Blue Shield Federal Employee Program (FEP) Contract

CVS Caremark was awarded a three-year contract to provide pharmacy benefit services to the Federal Employee Program (FEP). More than 5 million beneficiaries are in the FEP. 

Link to Article: PR Newswire

           

Bill seeks price transparency from PBMs

Missouri state Senator David Sater has introduced a bill to require PBMs to disclose to network pharmacies more information about their business practices. Pricing data and maximum allowable cost (MAC) lists that reveal how much PBMs reimburse pharmacies and clients would be part of the information to be shared. 

Link to Article: St. Louis Business Journal

Related: Pharmacy legislation passes Ohio Senate | Experts to meet on impact of pharmaceutical drug bill on FL state workers insurance

7.5M Signed Up in Health Insurance Exchanges

7.5 million people had signed up for health insurance from the exchanges by April 10. Questions remain about how many of these people were previously uninsured, and not everyone who signs up pays the premium, meaning that the final enrollment number is expected to be lower.  

Link to Article: Politico

Related: What Happens Next on the Health Law? | Budget Chief Is Obama’s Choice as New Health Secretary | How healthy are the newly insured in the exchanges?

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Truveris  |  Trust but Verify
475 Park Avenue South | Suite 2950 | New York, NY 10016
Phone: 800.430.1430 | Fax: 800.430.1430
www.truveris.com

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TruNews: March 2014

Florida Senate Looks At Pharmacy Audits

A Florida Senate committee approved proposal SB 702 that would further restrict audits of pharmacies. Sen. Aaron Bean (R-Fernandina Beach) is sponsoring the bill, which aims to establish rights for pharmacies like receiving adequate notice before audits conducted by PBMs. 

Link to Article: The Ledger

      

Do drug benefit managers reduce health costs?

Legislation in 14 states is aiming to require more pricing disclosure by PBMs. The state efforts continue the goal of the HHS rule that took effect last year, which requires PBMs to inform the government of rebates and discounts received from drug manufacturers as PBMs process Medicare benefits. 

Link to Article: USA Today

     

Association: Nearly 600 Oklahoma pharmacies could go out of business soon

According to the Oklahoma Pharmacists Association (OPhA), nearly 600 state pharmacies may go out of business because they are forced into blind contracts with pharmacy benefit managers (PBMs) in which the pharmacies lose money. Oklahoma Senator Rob Standridge, a pharmacist, and Rep. David Derby co-authored House Bill 2100 that would aims to regulate PBMs and make actual drug costs more transparent to pharmacies. 

Link to Article: Kentucky NewsChannel 4

Obama Gives Health Plans Added Two-Year Reprieve

Federal officials are allowing insurance companies to continue selling some plans that do not meet some of the ACA’s standards until 2016. This marks the second delay of the law’s more stringent requirements. 

Link to Article: WSJ

Related: How Health-Insurance Subsidies Are Calculated | Insurers May Get Cost Break Thanks to Rocky ACA Rollout

           

Medicare drug changes put on hold after criticism

The Obama administration has canceled plans to overhaul the Medicare Part D program after substantial outcry from patient advocacy groups, lawmakers, and the industry. The main concern was that the overhaul would prevent seniors from accessing particular medications and plans. 

Link to Article: Politico

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Truveris  |  Trust but Verify
475 Park Avenue South | Suite 2950 | New York, NY 10016
Phone: 800.430.1430 | Fax: 800.430.1430
www.truveris.com