How We’re Making Generic Medications More Accessible and More Affordable
Daniel J. Loepp
| 2 min read
Daniel J. Loepp is President and Chief Executive Officer of Blue Cross Blue Shield of Michigan.
Everyone should have access to safe, effective prescription medications when they need them at a price that is affordable. Unfortunately, we know that’s not the reality: pharmaceutical companies continue to increase the price of the drugs they manufacture, and there’s often not enough medication to meet demand. This presents a significant challenge for health insurers, as we strive to keep needed medications within reach for our members. Even generic drugs are increasing in price and experiencing shortages – which puts patients’ health at risk. That’s why Blue Cross Blue Shield of Michigan is joining the Blue Cross Blue Shield Association and several Blue Cross plans across the U.S. to partner with Civica Rx to ensure more generic medications are accessible and affordable. Unlike traditional pharmaceutical companies, Civica Rx is a non-profit, non-stock drug company that was formed by three philanthropies and numerous health care organizations that represent over 1,200 hospitals across the country. When it was founded in 2018, Civica Rx first worked to stabilize the price and supply of essential generic medications used in hospitals. Thanks to this groundbreaking new partnership with BCBS companies, Civica Rx will be able to expand their work by focusing on the affordability of generic medications outside of the hospital setting. It’s one of the many ways that BCBS companies are making sure that patients’ needs come first, and that cost savings are passed along to consumers. Our investment also builds on our long-standing efforts to improve the quality, safety and affordability of the care our members receive through partnerships with health care leaders. I’m proud that work can continue through our partnership with Civica Rx. Photo credit: Getty Images
