Insulin Price Drop Brings Relief to Consumers and Long-Term Care Industry
CHICAGO, April 20, 2023 /PRNewswire-PRWeb/ -- UnitedRx, the Midwest's largest full-service, independent long-term care pharmacy, is proud to announce its support for the recent drop in insulin prices throughout the United States. Three major insulin manufacturers – Eli Lilly, Novo Nordisk, and Sanofi – are reducing their product prices, a monumental win for patients, healthcare professionals, and the long-term care industry. Eli Lilly is at the forefront of this change, while Novo Nordisk and Sanofi plan to introduce more affordable options later this year.
"Insulin pricing reductions will benefit both patients and healthcare providers. Lower insulin prices will enable more patients to afford the treatment they need to manage their condition and maintain their health," says UnitedRx CEO Chuck Benain. "This initiative will transform how diabetic patients are cared for by making it easier for more people to obtain life-saving drugs and relieving the financial pressure on patients and their families."
After the Inflation Reduction Act was passed, the monthly out-of-pocket price of insulin for Medicare seniors was fixed at $35. Following pressure from President Joe Biden, lawmakers, advocacy groups, and the pharmaceutical industry's production of generic insulin versions, drug companies were encouraged to cut the cost of insulin for everyone.
"Lower costs will enable facilities to better care for their diabetic patients, which is a significant improvement for the health and well-being of our community," says Melanie Williams, UnitedRx's National Sales Representative. "Our patients have long had to pick between filling their medications and buying groceries. In the past, some people had to travel abroad to receive their medications. They are now currently more affordable in the United States than in Canada."
The pharmacy benefit manager (PBM) landscape will also be impacted as insulin prices fall from $300 to $30 per vial. The Affordable Insulin Now Act requires that the copay for insulin be no more than $35, which will have an influence on PBMs and their brand-name requirements.
UnitedRx remains committed to providing quality long-term care pharmacy services and staying at the forefront of industry developments. As insulin prices continue to decrease, patients can expect to see an improvement in overall diabetic care and reduced healthcare costs.
At UnitedRx, we provide a hometown pharmacy experience to over 350 clients around the country. Contact us to learn more about how our treatment approach can satisfy your long-term care facility's pharmacy needs.
About UnitedRx
UnitedRx is one of the largest, full-service, independent long-term care pharmacies headquartered in Illinois. Developed in 2008, UnitedRx has grown to over 350 facilities consisting of skilled nursing facilities, assisted living communities, youth homes, intermediate care facilities (ICF-DD), and hospice care. UnitedRx serves over 36,000 beds across 20 states with pharmacy locations in Illinois, Pennsylvania, Kansas, Nevada, and Tennessee, while employing over 350 people with an average of seven years of experience in the pharmaceutical industry. UnitedRx is committed to performing outstanding customer service to form meaningful and long-lasting relationships to produce positive results with facilities they partner with. For more information, visit https://www.unitedrx.net.
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SOURCE UnitedRx
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