A new executive order aims to significantly impact health care costs by expanding Medicare drug price negotiation. This initiative builds on a program established by the Inflation Reduction Act of 2022, which allowed for the negotiation of drug prices. The order acknowledges the commendable goal of the original program but notes that administrative complexity has limited its effectiveness. The executive order seeks to address these issues and potentially increase the percentage of Medicare drug prices that can be negotiated to up to 50%. Additionally, the order targets transparency in fees charged by middlemen and aims to limit Medicare payments for outpatient services provided by hospitals. These measures are part of a broader effort to reduce health care costs for older adults and people with disabilities who rely on Medicare. The implementation of these changes will require further rulemaking and other actions to take effect.
Senator Amy Klobuchar
@SenAmyKlobuchar
·
Jan 22 .
@SenateDems
worked to end Big Pharma’s sweetheart deal so Medicare could negotiate lower drug prices for seniors across the country. We will hold the new administration responsible for continuing strong drug price negotiations that will save seniors billions of dollars.
MacKay Jimeson
@MacKayJimeson
·
1h I’ve been critical of the Medicare Drug Price Negotiation Program established under the Inflation Reduction Act, not because we oppose lower prices but because of how the program has been implemented.From opaque negotiations to arbitrary decisions around which drugs are
Nick Gallo
@n1ck_gallo
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Feb 25 Medicare spends too much on drugs?? Interesting problem. Maybe if they could, idk, negotiate drug prices the cost of running the program would be less. I wonder if anyone has had this idea before.
Senior Care Pharmacy Coalition
@SeniorCareRx
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Feb 24 Lower drug prices are good for consumers, but Medicare Part D negotiated drug prices have unintended consequences on #LTCpharmacies and the patients we serve. If Congress doesn’t act soon, seniors could lose access to lifesaving medicines and essential pharmacy services.
Krisouli
@The_Krisouli
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Feb 5 This is complete bullshit. Did you know if you are on Medicare you can’t use discount drug pharmacies or manufacturers coupons? And your negotiated prices makes the out of pocket costs for medication hundreds of dollars more that it would be if they could use those programs? You
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