Kogut's Managed Care Practice Test

Net price describes the drug price after rebates are applied. In drug pricing, the list price or sticker price is often reduced by rebates and other concessions negotiated between manufacturers and payers. When those rebates are factored in, the amount the payer effectively pays is the net price. For example, if the list price is $100 and a $20 rebate is applied, the net price is $80. The term drug rebates refers to the discounts or refunds themselves, not the final price after applying them; prior authorization is a process for approval and coverage decisions, not a price measure; and Access Rebate isn’t a standard term.