by Roby Brock (roby@talkbusiness.net)
Dr. Joe Thompson with the Arkansas Center for Health Improvement (ACHI) expects federal Medicare drug negotiations to expand in coming years as a more capitalistic and competitive approach to healthcare emerges.
This past week, the Biden administration announced 10 drugs that will be negotiated for price discounts in Medicare, a first for the program.
“This is a very significant change for the federal Medicare program. Medicare is what we care for elderly in our nation. Since 1965 when Medicare was first put in place, it did not cover prescription drugs. The Part D program that went in place after the turn of the century did cover prescription drugs, but it did not allow the federal government to negotiate price on prescription drugs. So this is the first time Medicare, our federal insurance program for the elderly, has been able to negotiate price with pharmaceutical companies for now 10 drugs that are some of the most expensive drugs for people to pay,” Thompson said.
https://talkbusiness.net/2023/09/achis-dr-joe-thompson-on-covid-drug-prescription-negotiations/
