The Rise of Reference Based Pricing

The proposed merger between CVS and Aetna has made plenty of headlines, and many in the benefits industry have been theorizing which major player the two entities are trying to compete against. Is it Amazon, poised to enter the prescription business? Is it UnitedHealthcare, with its in-house pharmacy benefit manager?

Both of these giants may play a role, but there’s one trend driving the CVS/Aetna merger that the industry isn’t talking about: referenced-based pricing.

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