Advisory Board September 13, 2021
In response to President Joe Biden’s July executive order aimed at bolstering competition in the health care industry, HHS last week revealed a new plan to address high prescription drug prices—and key Congressional committees seem to have similar ideas.
HHS’ drug pricing plan
In a report released Thursday, HHS outlined its plan to address high drug prices, which aims to make the cost of drugs more affordable and equitable for all consumers, improve and promote competition in the prescription drug industry, and encourage innovation to promote and improve health care.
Specifically, HHS detailed support for several potential legislative policies that would advance its goals, including:
- The ability for HHS to negotiate drug prices in Medicare Parts B and D,...
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