Health Affairs February 21, 2025
The Inflation Reduction Act of 2022 marked a significant shift in US health care policy, granting the Centers for Medicare and Medicaid Services (CMS) the authority to establish a program to negotiate Medicare drug prices with manufacturers. The goal is to make prescription drugs more affordable and accessible for patients, and to maintain the sustainability of the Medicare program. In August 2023, CMS identified the first 10 drugs for price negotiation. In August 2024, CMS announced the new prices for these drugs, which are slated to take effect in 2026.
The pharmaceutical industry has voiced concerns over CMS’s negotiation program. Specifically, some critics believe that the potential reduction in revenue from new drug prices would curtail investment in research and...
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