Good step in the right direction. Much more to do but have to start somewhere. Pharma, Providers and Payers all need to be worked on.
(I'm still waiting for a easy to find, fully transparent and upfront pricing (best estimate, range etc. is appropriate) for all hospital procedures and doctor's services)
Merck, Amgen, AbbVie products among first 10 drugs selected for Medicare price negotiations - MarketWatch
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Medicare on Tuesday announced the first 10 drugs selected for price negotiations, launching a historic and highly contentious process with big implications for pharmaceutical companies, taxpayers and patients.
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None of below drugs applies to me but good to see Diabetes and Insulin is the list. I assume these are heavily prescribed drugs.
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The selected drugs are the Bristol Myers Squibb Co. BMY, -0.71% blood thinner Eliquis, Boehringer Ingelheim’s heart failure drug Jardiance, Johnson and Johnson JNJ, -1.18% blood thinner Xarelto, Merck & Co. Inc. MRK, -1.16% diabetes drug Januvia, AstraZeneca AZN, +0.57% heart failure drug Farxiga, Novartis AG NVS, +0.55% heart failure drug Entresto, Amgen Inc. AMGN, +0.07% rheumatoid arthritis drug Enbrel, AbbVie Inc. ABBV, +0.50% blood cancer drug Imbruvica, Johnson and Johnson psoriasis treatment Stelara, and Novo Nordisk NVO, +0.57% insulin Fiasp.
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Lawsuits are inevitable.
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The manufacturers of the selected drugs have until Oct. 1 to sign agreements to participate in the program ... is the subject of at least eight lawsuits filed by drugmakers and industry groups.
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Every little bit helps, and before you know it, we've got $500B in savings.
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The federal government is expected to save nearly $100 billion over 10 years through the negotiation program, which will broaden to include additional drugs in future years, according to the Congressional Budget Office. That’s helping to pay for an overhaul of the Medicare prescription-drug benefit that will slash costs at the pharmacy counter for many enrollees, policy experts say.
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