Posted by Michael Wonder on 17 Jun 2020
CMS’s proposed rule on value-based purchasing for prescription drugs: new tools for negotiating prices for the next generation of therapies
17 June 2020 - The Trump Administration has delivered significant policy advancements to lower the price of drugs and spur greater competition and innovation in the American health care system.
As a result of actions by the Centers for Medicare and Medicaid Services (CMS), the average basic premium for Medicare Part D prescription drug plans was projected to decline 13.5 percent since 2017, to the lowest level in seven years, saving beneficiaries about $1.9 billion in premium costs over that time.
Most recently, in March, CMS announced the Senior Savings Model, where participating enhanced Part D prescription drug plans across the country will provide Medicare beneficiaries access to a broad set of insulins at a maximum $35 copay for a month’s supply, saving beneficiaries on average 66 percent per year.
