Posted by Michael Wonder on 25 Oct 2018
HHS advances payment model to lower drug costs for patients
25 October 2018 - The International Pricing Index Model would lower costs for physician-administered drugs by resetting Medicare payments based on international prices and introducing competition
On Thursday, the U.S. Department of Health and Human Services, through the Centers for Medicare & Medicaid Services, announced and sought input on a new “International Pricing Index” (IPI) payment model to reduce what Americans pay for prescription drugs.
Under the IPI model, described in an Advance Notice of Proposed Rule-making (ANPRM), Medicare’s payments for select physician-administered drugs would shift to a level more closely aligned with prices in other countries. Overall savings for American taxpayers and patients are projected to total $17.2 billion over five years.
