Becker's Healthcare June 27, 2024
Beginning July 1, the cost of 64 prescription drugs will be reduced through Medicare Part B for some enrollees, the Biden administration announced June 26.
The effort is part of the Inflation Reduction Act, put in place by the administration in 2022, which outlines lowering drug prices and capping out-of-pocket medication costs as part of its aim. In the update, the administration calls out drugmakers for raising prices “faster than the rate of inflation.”
“Discouraging drug companies from price increases above the rate of inflation is a key part of this effort, and CMS continues to implement the law to bring savings to people with Medicare,” CMS Administrator Chiquita Brooks-LaSure, said in a news release.
The price cuts on...
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