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MADISON, Wis. —A new survey by Navitus Health Solutions highlights a critical issue facing millions of Americans: the rising cost of prescription drugs. The survey, conducted with 2,000 Americans, reveals that nearly half (48%) have been unable to fill a necessary prescription due to high costs. The findings emphasize a growing demand for affordable medication and transparent pricing from pharmacy benefit managers (PBMs), a sector many Americans are unfamiliar with.
The survey found that 88% of respondents believe that addressing prescription drug pricing should be a priority for the next administration. For many, drug costs are already prohibitive, and the current system lacks transparency, further complicating the issue. Navitus CEO David Fields points out that many PBMs profit by taking a margin within the drug supply chain. With 89% of Americans believing they pay more for prescriptions than people in other countries, there is a clear public sentiment favoring change.
Despite PBMs' significant role in the healthcare system, the survey revealed that 75% of Americans do not know what a PBM is, and 84% could not name one. PBMs often negotiate with drug manufacturers and insurers to set prices, yet many respondents indicated they had received little to no communication from their employers about PBMs and their role in prescription pricing. This knowledge gap leaves Americans unaware of how these intermediaries impact the prices they pay at the pharmacy.
The survey further reveals a willingness among consumers to switch to more affordable alternatives. A notable 93% of respondents said they would consider using a lower-cost medication if it offered the same efficacy as their doctor prescribed. Furthermore, 42% desired more transparency on affordable drug options, indicating that better-informed consumers could lower prescription costs.
Navitus positions itself as an alternative to the traditional PBM model. Instead of creating profit margins through price markups, Navitus claims to champion transparency by passing 100% of drug rebates and discounts directly to health plans and their members. Navitus regularly publishes a Drug Trend Report to increase transparency and inform the public on drug cost trends. Fields emphasizes that Navitus's approach is centered on fair pricing and transparency, aiming to relieve the financial burden on consumers who struggle with medication costs.
As drug costs are anticipated to continue rising in 2025, the survey results show that Americans are demanding change and transparency in the prescription drug pricing system. Addressing these concerns will be essential for healthcare providers, insurers, and legislators to ensure that critical medications remain accessible to all Americans.
With Navitus's survey and ongoing advocacy for transparency, the conversation around drug pricing has gained new momentum. It is challenging traditional PBMs to consider the impact of their practices on consumers and urging policymakers to prioritize prescription drug pricing in the coming year.
