Drug Price Transparency: Planning for Change

Approximately 22 states already have prescription drug transparency legislation in place, requiring companies involved in the whole drug supply chain to provide state regulators with pricing data. Prescription pricing transparency regulations aim to level the playing field by offering better insight into drug costs. They are designed to throw light on the true cost of drugs and to ensure that consumers and insurers aren't being gouged. Given the fact that the cost of prescription medications keeps rising and that there is now no overarching federal control, the issue of drug price management is also expected to continue grabbing the attention of the media and state lawmakers. For instance, the AARP Rx Price Watch Report for 2021 found that brand-name prescription medicine retail prices are steadily rising.