Cost-Containment

The agency is exploring if the companies that broker drug purchases for hospitals, along with the drug distributors, are pushing the prices of generics so low that they've made it hard for manufacturers to maintain production.

The Centers for Medicare & Medicaid Services made "historic strides" in making health care and prescription drugs affordable, said Administrator Chiquita Brooks-LaSure, who updated stakeholders about CMS's accomplishments.

PhRMA argued that the Inflation Reduction Act delegated too much power to HHS, however, the DOJ said the industry association lacked standing because it doesn't manufacture or sell prescription drugs.

For years, Medicare has paid hospitals double the rates it pays other providers for the same services, such as colonoscopies and blood tests, but a new House bill requires Medicare to pay the same rates for such services.

One key to success with transitioning to RBP is to secure buy-in throughout the firm, from employees to the C-suite - and as workers understand the financial benefits, they often become the best salespeople for their co-workers.

The CEOs of Merck, Bristol Myers Squibb and Johnson & Johnson faced a barrage of questions on Capitol Hill from Sen. Bernie Sanders (I-VT) and other members of the Health, Education, Labor and Pensions committee.

The Delinking Revenue from Unfair Gouging (DRUG) Act would require pharmacy benefit managers that contract with a carrier offering federal health benefits plans to "de-link" the fees they charge insurers from the price of drugs.  

The Biden administration took the first step in its Medicare drug price negotiation program for 10 of the costliest prescription drugs, giving drugmakers until March 2 to either accept the government's offer or make a counteroffer.