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Post by apidistra on Sept 14, 2020 13:42:11 GMT -5
President's order of September 13 to lower drug prices contains MFN language. President also stated the middleman "rebates" are history, but I don't see language applicable to rebated in the order.
Anyone on the effect on Afrezza?
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Post by cjm18 on Sept 14, 2020 14:03:48 GMT -5
No immediate impact. May have none ever.
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Post by apidistra on Sept 14, 2020 15:38:12 GMT -5
No immediate impact. May have none ever. Discussion why? |
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Post by cjm18 on Sept 14, 2020 15:53:38 GMT -5
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Post by agedhippie on Sept 14, 2020 17:06:17 GMT -5
No immediate impact. May have none ever. Discussion why? First, because it is only Medicare and not commercial plans, and then because it increases the government's bill for Medicare as the insurers will jack up premiums to cover the lost PBM revenue. They looked at this last year and abandoned it because of that cost. Patients would get a lower bill, but the government would pay more - the government doesn't want that! This will die a quiet death like last time. Meanwhile it looks good and that's politics - style over substance. |
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Post by mnkdfann on Sept 24, 2020 18:13:52 GMT -5
President's order of September 13 to lower drug prices contains MFN language. President also stated the middleman "rebates" are history, but I don't see language applicable to rebated in the order. Anyone on the effect on Afrezza? Like some others above more or less suggested, I think the Executive Orders are primarily for show going into an election. This article gives some background to the U.S. President's latest Executive Orders on drug pricing. thebulwark.com/trumps-desperate-extraconstitutional-and-probably-illegal-ploy-to-lower-drug-prices/?utm_source=afternoon-newsletter&utm_medium=emailAccording to the New York Times, in July and August, President Trump pursued one last (and probably illegal) gambit with the pharmaceutical industry to deliver lower prices to consumers. He and his aides used the threat of pricing tied to an international benchmark to coerce the industry to agree to provide direct assistance to Medicare beneficiaries. The Times reports that major pharmaceutical companies were prepared to pay for $150 billion worth of cost-sharing relief for senior citizens if the administration halted its price-benchmarking plan. It is not clear from the story how the drug companies could provide such assistance under current law. That wasn’t enough for Trump. He and his aides wanted drug discount cards—worth $100 apiece—delivered in October to every Medicare beneficiary. Medicare has 62.6 million enrollees in 2020, so this scheme would have required a one-time, $6.3 billion payment from the companies. The industry’s negotiators balked at this request, and the deal fell through. There is MUCH MORE at the link. I only cut and pasted the intro up above. The article at the link also includes an interesting observation on the 'middleman rebates' the OP mentioned the President addressing:
Some administration officials argue that the rebate system produces higher overall costs because PBMs ask for rebates that increase with higher prices. The chief actuary of Medicare disagrees; in 2018, he estimated that elimination of rebates would increase overall drug costs. That was enough to convince the president to walk away from this idea after the Department of Health and Human Services (HHS) had spent months preparing to implement it. |
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