New Survey: Consumers Hold Drug Companies Responsible for High Prices and Out-of-Pocket Costs
WASHINGTON, Nov. 30, 2016 /PRNewswire-USNewswire/ -- A new national survey finds most voters blame drug companies not only for high drug prices, but also for out-of-pocket costs. The findings undermine the drug industry's $100 million PR campaign to blame higher costs on employers, unions, health plans and the pharmacy benefit managers (PBMs) they use to negotiate discounts on prescription drugs.
"Consumers are well aware drug companies set drug prices and they know higher prices mean higher out-of-pocket costs. No one's buying the drug companies' campaign to shift blame to employers, unions, plans, or the PBMs that negotiate discounts on their behalf," said Pharmaceutical Care Management Association (PCMA) President and CEO Mark Merritt.
North Star Opinion Research surveyed 1,000 registered voters nationwide.
Key findings from survey include:
- By almost 3-to-1, voters blame high drug prices for increased cost-sharing.
- Only 1-in-5 voters buy the drugmakers' "rebates cause high prices" message.
- Three-quarters of voters say the cost of prescription drugs is too high.
- More than 4-of-5 voters with prescription drug coverage are satisfied with it.
PCMA is the national association representing America's pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, managed Medicaid plans, and others.
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SOURCE Pharmaceutical Care Management Association