comâ¢modâ¢iâ¢ty. 1. an article of trade or commerce, esp. a product as distinguished from a service. 2. something of use, advantage, or value. 3. any unprocessed or partially processed good, as a grain, fruit or vegetable, or a precious metal.
Proscribe sounds similar to the word prescribe, but be careful: these words are essentially opposite in meaning. While proscribe means forbid, prescribe is used when a doctor recommends a medicine or remedy. Of course, if you want an excuse for not following your doctorâs orders, you could say you were confused about the meaning of these two words â but that would be lying, which is proscribed by most peopleâs value systems.
The difference between the WAC (what the pharmacy actually paid for the drug) and the reimbursement from insurance (based on AWP) is known as the spread, and equates to the profit that the pharmacy receives. Market pricing on brand drugs tend to be about 16.6 percent less than the AWP. However, the relation of AWP to generic pricing is not clear. Older generics tend to have a large spread between the AWP and WAC, which in turn gives a large spread, and higher profit margins for the pharmacy or other provider of the drug.