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New Avalere Study: Drugs Not Major Drivers Of Premium Growth, Dispels Insurance Industry Myth

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Today, Avalere Health published a study that further dispels the pervasive myth that prescription drugs are a major driver of increased health insurance premiums. It is, in fact, outpatient spending and professional services that are the largest drivers of insurance premium growth—not prescription drugs, which represent only about 14 percent of premium growth.  Outpatient spending accounts for 29.9 percent of 2017 premium increase justifications. While professional services account for 27.7 percent. This data comes from Read More >

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Correcting the Record On Politico’s Misinformed Article

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Politico recently explored the relationship between the biopharmaceutical industry and the Affordable Care Act (ACA). The article laments the supposed high cost of drugs and implicitly endorses policies that would not only do little for patients in need of medications, but also stifle innovation through research and development. The implication that the “structural reforms” the story talks about would fundamentally change drug costs in this country is myopic and misinformed. Those so-called “reforms” like top-down, Read More >

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A Rehash Of Tired, Old Ideas From President Obama

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Many of the biopharmaceutical policy proposals laid out by President Obama in his JAMA article (United States Health Care Reform: Progress to Date and Next Steps) are simply a rehash of tired, old ideas that have been rejected by bipartisan majorities in the Congress for years. The plans he lays out would do little or nothing to improve our shared goal of increasing patients’ access to medicines and could impede the development of new medical Read More >

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Bill Gates is Right

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In a recent Bloomberg interview, Microsoft founder and noted philanthropist Bill Gates debunked much of the recent criticism of the biopharmaceutical industry and the drug pricing system in the United States, stating: “The current system is better than most other systems one can imagine … The drug companies are turning out miracles, and we need their R&D budgets to stay strong. They need to see the opportunity.” Gates also praised the innovations that are coming Read More >

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Bloomberg Caught Spreading Another Inaccurate “False Alarm” About Drug Prices

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I was deeply disturbed by Bloomberg’s inaccurate report this morning that attempted to examine drug costs. The article claims it “decodes [our industry’s]…pricing practices.” But, in reality, it does no such thing. It fails to take in the full picture of biopharmaceutical successes and failures; admits its “proof” is merely guesstimates from an organization that wasn’t involved in pricing decisions; and in some cases, it just plain gets the facts wrong. First, this article myopically Read More >

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