CMS Takes the Reins: The Big Shake-Up in Medicare Drug Pricing

Workweek September 2, 2023
Jared Dashevsky, MD

CMS announced the 10 Medicare Part D medications slated for pricing negotiations next year, on which Medicare enrollees spent a staggering $3.4 billion in out-of-pocket expenses in 2022.

CMS has not been able to negotiate drug prices as other countries do, thanks to the Medicare Modernization Act of 2003. Now, the recently signed Inflation Reduction Act (2022) allows CMS to negotiate drug prices—and the ball is finally starting to roll.

In this article, I’ll share details on the 10 drugs that made CMS’s list, catch you up on why CMS is finally able to negotiate drug prices, and give my take on the impact of such negotiations on the system and patients.

THE DEETS

Below is the list of the...

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