Governor Ron DeSantis signed an executive order on Friday, July 8th at Cape Coral High School to increase transparency for prescription drug prices in Florida. The order would help make pharmacy benefit managers and third-party administrators of prescription drug programs, accountable when managing prescription drug benefits for insurance companies.
Gov. DeSantis’s goal in signing this order is to create lower costs for prescription drugs in Florida. DeSantis says, “With food and gas costs on the rise, addressing the pharmaceutical costs is one area I can make a difference in.” He continues to state, “This executive order requires accountability and transparency for pharmaceutical middlemen when doing business within the state, thereby reducing the upward pressure on prescription drug costs."
The order directs all executive agencies to include the following in future contracts:
- Prohibit spread pricing
- Prohibit reimbursement callbacks
- Include data transparency and reporting requirements
- Review all rebates, payments, and relationships between pharmacies, insurers, and manufacturers
- Amend all current contracts they can with the same provisions
Additional Programs In Progress
During the Drug Transparency Order signing, Gov. DeSantis’ administration is working on the Canadian Prescription Drug Importation Program. This will allow prescriptions from Canada to be imported when their prices are significantly lower than those in the United States. The Food and Drug Administration (FDA) has been reviewing this for the past 600 days.
By developing new programs after the Drug Transparency executive order, Gov. DeSantis' administration can find effective ways for Florida residents to save money.
Navigating Prescription Drug Transparency
By partnering with GMS, you gain access to a handful of resources beneficial for your business. At GMS, we have a designated Rx specialist who works with your employees to find them the most cost-effective options. Our promise is to make your business operations simpler, safer, and stronger. Learn more by contacting us today.