facebook A push for price transparency seeks to lower your prescription drug costs

BIG PHARMA POLITICS: Consumers pressure politicians to do something about rising drug prices. Read More

A push for price transparency seeks to lower your prescription drug costs

If you had better access to information about the price of your medications, assistance programs, and drug company sales, would it change your prescription buying habits? The U.S. Health and Human Services Department believes it will.

Drugmaker Eli Lilly & Co. will begin airing ads that flag their new website, lillypricinginfo.com, Bloomberg reports. The drugmaker will also include a toll-free number in ads, so consumers can call to receive details on all their prescription drugs.

“This is a first step,” Eli Lilly & Co Chief Executive Officer Dave Ricks told Bloomberg However, it’s a far cry from the Trump administration’s initial call for drugmakers to include the list price on all advertisements, which the administration says would pressure these companies into lowering consumers’ drug costs.

The industry, in lobbying against the administration’s initial proposal, cited concerns about how the information would affect patients’ behavior. They worry that those in need of care might opt against getting treatment because of the price disclosure. They also state that list prices don’t account for rebates and insurance copays, which may not reflect what consumers pay.

What do you think? Is a website and toll-free number sufficient? Would including list prices on advertisements help you make more informed decisions about your health care? Share your thoughts with Voices for Affordable Health.