New dashboard launched to track brand-drug price changes
Since we launched 46brooklyn in August 2018, much of our work and research has been focused on the generic marketplace and hidden middleman markups in the supply chain. But in our quest to solve drug pricing riddles and simplify the prescription drug transaction, we realize that all inquiry needs to have a starting point, and despite all of its flaws, the starting point for prescription drug costs discussions are list prices.
At the turn of the calendar year, drugmakers commenced their annual tradition of price increases, and predictably, the uproar commenced. But anyone who has spent more than a day studying drug prices knew that the increases we coming, so context for the increases is extremely relevant. The more important question at hand is, “how do this year’s increases compare to previous years?”
Today, we’re pleased to announce the release of our latest free drug pricing dashboard, 46brooklyn’s Brand Drug Price Change Box Score, which lets you visualize all brand-name manufacturer list price changes that are publicly-reported each week, drill down to the manufacturer and drug level, strength level, and compare and contrast different periods.
Unfortunately, list prices are only one part of the story – any discussion of brand drug prices absent (hidden) rebates is grossly incomplete. As such, this tool cannot be used to draw any conclusions on changes in manufacturer revenue/profit or PBM revenue/profit. All it should be used for is to help drill into changes in list prices. Given this substantial limitation, you may ask, “why create this dashboard?” Because it’s quite clear that any drug pricing information out there – no matter how incomplete – is going to get scrutinized. We figured we may as well make this process more transparent and efficient.
So, consider this new viz our first stab at providing a more complete picture of incomplete data.
To access the new dashboard, click here. To access our full report, complete with details on how to use the dashboard (as well as its limitations), click here.
In other news, 46brooklyn co-founder Antonio Ciaccia made a couple appearances over the last few weeks. First, he discussed (in his capacity at the Ohio Pharmacists Association) some of the spread pricing and markup issues that were uncovered in Ohio with Bloomberg's Robert Langreth, who did another excellent write-up on the pricing anomalies in state Medicaid programs across the country. Additionally, much to the chagrin of CVS and PCMA, he joined Boston 25 News reporter Jim Morelli to discuss 46brooklyn's work to provide clarity into drug pricing and disrupt inefficient payment models.
Also, last week, 46brooklyn co-founder Eric Pachman was mentioned in an editorial in the Columbus Dispatch highlighting their Drug Look-up Tool that we assisted them in creating. The Dispatch's team of Darrel Rowland, Cathy Candisky, Marty Schladen, and Lucas Sullivan continue to do amazing work at the local level. If you haven't done so already, be sure to check out their Side Effects series on PBM practices in our home state of Ohio.
Thanks for your ongoing feedback and support.