Medicaid rebates running at 20% in Michigan; Rx spending up 4% despite 7% drop in scripts.
Executive Summary
MICHIGAN MEDICAID REBATES RUNNING AT 20% OF PHARMACEUTICAL EXPENDITURES through fiscal 1997, according to program figures released at the University of South Carolina public policy conference in Hilton Head, S.C. Michigan calculated that it received $72.8 mil. in rebates for FY 1997 out of total drug expenditures of $365.3 mil. The figure includes estimated payments during the fourth quarter. Medicaid agencies receive a minimum 15.1% rebate on pharmaceuticals, and are entitled to rebates matching the manufacturer's "best price."
You may also be interested in...
Medicaid Rx Spending Increases To $15.5 Bil. In 1998; 9.1% Of Total Costs
Prescription drugs accounted for 9.1% of Medicaid spending in 1998, according to a study authored by the Health Care Financing Administration Health Statistics Group, published in the January issue of Health Affairs.
Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011