Health Affairs August 13, 2024
Abstract
In the short and longer terms, the Medicare Drug Price Negotiation Program should be evaluated based on four categories of outcomes: beneficiary access, prices and spending, promotion of value, and effects on innovation.
The Inflation Reduction Act (IRA) of 2022 includes provisions designed to reduce federal drug spending and lower drug costs for Medicare beneficiaries while improving access to medications. The legislation gives the Centers for Medicare and Medicaid Services (CMS) the ability to negotiate prices with manufacturers for specific drugs with high costs to the Medicare program.1 Negotiated prices for the first ten selected drugs,2 all covered under Medicare’s outpatient drug benefit (Part D), will be effective in 2026. Subsequent years will bring negotiated prices for an additional...
Today's Sponsors
Today's Sponsor