Home , April 1, 2010 - Volume 10 - Issue 2 , Predictors of Annual Pharmaceutical Costs in Australia for C... , Previous Abstract , Next Abstract , American Journal of Cardiovascular Drugs: 1 April 2010 - Volume 10 - Issue 2 - pp 85-94 doi: 10.2165/11530670-000000000-00000 Original Research Articles Predictors of Annual Pharmaceutical Costs in Australia for Community-Based Individuals with, or at Risk of, Cardiovascular Disease: Analysis of Australian Data from the REACH Registry Ademi, Zanfina1; Liew, Danny2; Hollingsworth, Bruce3; Steg, Ph. Gabriel4; Bhatt, Deepak L.5; Reid, Christopher M.1; on behalf of the REACH Registry Investigators Abstract Background: Cardiovascular disease (CVD) remains a leading cause of death across the world and poses a significant economic burden. Research regarding per-person use and cost of cardiovascular pharmaceuticals in Australia, as well as potential predictors of pharmaceutical costs in populations using the bottom up costing approach, is limited. Previous ...
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The bill would require a manufacturer of a prescription drug with a wholesale acquisition cost of more than $40 that is purchased or reimbursed by specified purchasers, including state agencies, health care service plans, health insurers, and pharmacy benefit managers, to notify the purchaser of an increase in the wholesale acquisition cost of a prescription drug if the increase in the wholesale acquisition cost for a course of therapy, as defined, exceeds a specified threshold. The bill would require that notice to be given at least 60 days prior to the planned effective date of the increase. Commencing no earlier than January 1, 2019, the bill would require the manufacturer to notify the Office of Statewide Health Planning and Development (OSHPD) of specified information relating to that increase in wholesale acquisition cost on a quarterly basis at a time and in a format prescribed by the office. The bill would require the manufacturer to notify OSHPD of specified information relating to the ...
CostThe cost rating is based on the average wholesale price for a drug. The average wholesale price is the suggested selling price for a drug, much like the sticker price on a car. Insurance companies often use this cost as the basis for drug reimbursement. This price does not reflect what you would pay for a drug if covered by your prescription benefit plan. For the ratings system, dollar signs are used to indicate the following price range categories: $ = < $25, $$ = $25 to $49, $$$ = $50 to $99, $$$$ = $100 to $199, and $$$$$ = > $200.. ...
2)(A)A manufacturer of a generic prescription drug with a wholesale acquisition cost of one hundred dollars ($100) or more per month supply or per a course of treatment that lasts less than a month shall notify a state purchaser, health care service plan, health insurer, or pharmacy benefit manager if it is increasing the wholesale acquisition cost of the prescription drug by more than 25 percent during a 12-month period. The notice shall be provided in writing at least 30 days prior to the planned effective date of the increase. A copy of the notice shall be provided concurrently to the Chairs of the Senate Committee on Appropriations, the Senate Committee on Budget and Fiscal Review, the Assembly Committee on Appropriations, and the Assembly Committee on Budget ...
... For more on this topic please also see our article- State Health Care Laws and Proposals. (2/8/10)- Legislators in at least 11 states have introduced bills this year aimed at improving access to health care, said a spokesman for the National Conference of State Legislatures. Both California and Missouri have had at least one of their houses pass legislation to create government backed health-care coverage for their residents.. The balls back in our court, said Melvin Neufeld, a Republican legislator in Kansas who is vice-president of the state legislature conference.. The American Medical Association plans to unveil a code of conduct as a model for its state affiliates to use in pushing for new regulations on the health-care issues.. (10/2/08)- Governor Arnold Schwarzenegger, signed the California budget bill which was a record breaking 85 days late. State Controller John Chiang moved quickly to pay about 80,000 claims that ...
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Democratic presidential hopeful Senator Barack Obama has lent his support to concerns over seriously-ill patients, after it emerged this week that US insurers are increasingly charging members being treated with the most expensive drugs a percentage of the costs of these medications, instead of the standard set copayment. - News - PharmaTimes
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Pharmaceutical manufacturers pay rebates to pharmacy benefit managers and health plans as part of their formulary contracting agreements. The "2010-2011 Prescription Drug Benefit Cost and Plan Design Report" says that rebates are calculated as a guaranteed amount per prescription or an actual amount per prescription. The report says that there has been an increase in rebate amounts over time, excluding this years average guaranteed rebate per mail prescription. The report says fewer employers provided rebate data in 2010, which might account for the lower amount reported for guaranteed rebate per mail prescription and actual amount per retail prescription.. ...
Why Drugs Cost So Much," by David Noonan: Citing increased prescription drug use, expensive research costs and pharmaceutical industry price hikes, Noonan explains the recent upsurge in drug costs and reveals how the drug industry has become one of the most profitable in the nation, with Americans spending $125 billion per year on pharmaceutical products ...
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New Delhi, July 14: The official Wholesale Price Index for All Commodities (Base: 2004-05 = 100) for the month of June, 2014 rose by 0.5 percent to 182.6 (provisional) from 181.7 (provisional) for the previous month.. INFLATION. The annual rate of inflation, based on monthly WPI, stood at 5.43% (provisional) for the month of June, 2014 (over June,2013) as compared to 6.01% (provisional) for the previous month and 5.16% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.28% compared to a build up rate of 1.82% in the corresponding period of the previous year.. PRIMARY ARTICLES (Weight 20.12%). The index for this major group rose by 1.3 percent to 249.9 (provisional) from 246.8 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-. The index for Food Articles group rose by 2.2 percent to 249.7 (provisional) from 244.3 (provisional) for the previous month due to higher ...
WASHINGTON || A big decline in food costs helped hold down wholesale prices in September, contributing to a 0.1 percent decline, the first drop since April. Gasoline prices, which had shot up 2.6 percent in August, dipped 0.1 percent in September.Excluding volatile food and energy, so-called core prices rose a slight 0.1 percent in September and have risen a modest 1.2 percent over the past 12 months.
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The World Bank lowered its forecast for world economic growth in 2014. Wholesale prices for most products fell in May. Consumer sentiment edged down by 0.7 points at the end of May.
Comparing Canadian drug prices with American drug prices is complicated by the lack of published data that identifies actual average prices paid by consumers in the United States. Inquiries with IMS Health Inc. Canada indicate that there is no publicly accessible source of data on final retail-consumer purchases for the entire market like that used by IMS Health in Canada to estimate sales volumes and spending. Moreover, US retail prices vary significantly among retailers and geographic locations, making it difficult to extrapolate small samples across the entire market [Graham, 2001; US FDA, 2003].. Estimating US retail prices from manufacturers direct price or wholesale price is also difficult because detailed data on actual prices paid to manufacturers and wholesalers by retailers varies widely depending on individually negotiated rebates. Detailed price and rebate data is kept private by retailers, wholesalers, and manufacturers because it is proprietary commercial information.. So, while ...
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The MarketScan Commercial Claims and Encounters Database is a research database owned by Truven Health Analytics. It consists of annual employer and health plan sourced medical and drug data on millions of individuals, including those covered by employer sponsored private health insurance, their spouses, and dependents. Sample data elements include demographic data (age, gender, employment status, geographic location), inpatient and outpatient medical information (admission date and type, principal and secondary diagnosis codes, discharge status, major diagnostic category, principal and secondary procedure codes, DRGs, length of stay, place of service, and quantity of services), financial information (total and net payments, payments to physician, hospital, and total admission payments), drug information (generic product ID, average wholesale price, prescription drug payment, therapeutic class, days supplied, national drug code, refill number, and therapeutic group), and enrollment ...
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The prescription-drug market currently generates a whopping $950 billion in annual sales, and that figure is likely to grow to $1.2 trillion by 2016....
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Employers and health plans, faced with soaring spending on prescription drugs, are forcing their workers to pay more for most drugs and refusing payment entirely for certain medicines that they reject as not essential; this represents significant deterioration in benefit that has been available to most working people for years, and one that has become ever more valuable as drug prices rise; companies have been increasing employee co-payments for drugs in their health plans for several years; some health plans are now imposing deductibles of as much as $150, which employees must pay before their medicines are covered; other plans are requiring employees to pay as much as half the retail cost of drugs; still other plans pay for certain expensive drugs only if doctor first tries less expensive treatment and then petitions health plan for approval; insurers toughened stance is response to rising costs stoked by $2.6 billion a year that drug makers spend on consumer advertising, much of it to promote
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A method and system for predicting the profit attributable to a proposed sales promotion of a product, wherein the product has a wholesale price and a manufacturing cost per unit sales, including establishing a base volume for sales of the product in the absence of promotions; determining a sales lift for the plurality of single promotions; and correlating the sales lift with promotion information to provide a sales lift model. The method and system also include proposing a promotion having a cost per unit sales for a promotion time period and having a planned sale price for the product; applying the sales lift model to the proposed promotion to predict sales of the product for the promotion time period; and calculating manufacturer profit based upon the products predicted sales, cost per unit sales for promotion, wholesale price, and manufacturing cost per unit sales during the promotion time period.
Objective : To develop and implement a range of strategies to control rising drug expenditure in a teaching hospital. Method : A multidisciplinary team was established to survey drug use and to identify areas where drug wastage was occcurring. Once target areas were identified, strategies were developed and implemented and drug expenditure...
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