MedPAC To The Rescue? How US Policy Advisors Could Save The Drug Industry
The Congressionally-chartered Medicare Payment Advisory Commission is preparing a formal endorsement of a plan to overhaul Part D. It will come just in time to help move stalled legislation – and that legislation may be the best chance the drug industry has to fend off draconian pricing measures in 2021.
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It is easy to see why Sen. Bernie Sanders would be the least popular pick for biopharma executives among the contenders in the Presidential race. But for industry lobbyists, it might not be the worst outcome – at least in terms of clarifying positions.
Outgoing Biotechnology Innovation Organization CEO suggests consideration of price inflation caps instead of 'big discounts' in Medicare Part D and says that industry should fund a cap on beneficiary out-of-pocket costs in the program.
DeRoyal’s DeBusk urges a focus on rebates, while Brookings' Ginsburg wants a focus on design, not savings per se, as MedPAC discusses restructuring the Part D design to better accommodate current market dynamics. Formal recommendations to Congress may be approved in the spring.