Posted by Michael Wonder on 25 Aug 2024
What the newly released Medicare prices for 10 drugs do and don’t tell us
16 August 2024 - CMS needs to beware of unintended consequences that might hamper patient access.
For many of us, Thursday was Health-Policy-Wonk Festivus. The Centers for Medicare & Medicaid Services released the Maximum Fair Prices for the first 10 drugs subject to negotiation under the Inflation Reduction Act. This is an important moment in prescription drug pricing policy. For the first time, CMS had the opportunity to analsze current clinical evidence, unmet needs, and other related considerations as they negotiated the prices of these 10 drugs. And for the first time, we have transparency around the actual net prices to be paid by the single largest purchasers of drugs in the US. Most importantly, this is a milestone in CMS’ efforts to deliver savings to seniors and taxpayers for drugs that lack generic competition.
