Forbes October 5, 2022
On October 1st, the Department of Health and Human Services (HHS) began implementing one of three main prescription drug pricing provisions contained in the Inflation Reduction Act. The Department of HHS now requires that drug manufacturers pay the Centers for Medicare and Medicaid Services (CMS) rebates for raising list prices of outpatient drugs for Medicare in excess of inflation. Any difference between the inflation percentage in a given year and the increase in price above inflation must be rebated to Medicare.
There are three key drug pricing policy pillars included in the Inflation Reduction Act. The first and most discussed pillar concerns allowing Medicare to negotiate drug prices for a limited set of branded drugs without both exclusivity and generic...
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