Today, President Trump announced the administration’s highly anticipated American Patients First plan aimed at lowering the costs of prescription drugs and reducing out-of-pocket spending. The blueprint seeks to encourage innovation by promoting improved competition and better negotiations of drug prices. It also outlines immediate and future actions the Department of Health and Human Services (HHS) will take to enforce this plan. Immediate actions impacting Medicare include:
- Giving Medicare Part D prescription drug plans more power when negotiating drug prices with manufacturers;
- Allowing greater substitution in Medicare Part D to address price increases for single-source generics;
- Sending a report to the President on whether lower prices on some Medicare Part B drugs could be negotiated for by Part D plans; and
- Leveraging the Competitive Acquisition Program in Part B.
ASCRS will be submitting comments on the blueprint. We will keep you updated.