Editor’s Note: This article originally appeared on ECG Management Consultants’ website.
On October 25, President Trump announced his plan to lower prescription drug prices. Under the plan’s new proposed payment system, the Centers for Medicare & Medicaid Services (CMS) will launch a five-year pilot program—the International Pricing Index (IPI) model—that will allow Medicare to pay less for select Part B drugs when a lower international price is available. The model, which marks a significant departure from Medicare’s long-standing drug reimbursement approach, will be mandatory and cover half of the providers in the country. Trump touted the plan as an overdue solution that will finally hold drug companies and foreign countries accountable for high prices plaguing domestic patients. This post summarizes the must-know details behind the proposal and the administration’s likely path forward. Click here to continue>>
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