A few provisions, including capping a month’s supply of insulin to $35 and companies facing a fee if their drugs’ prices rise faster than inflation, are already in effect.
Here are three future deadlines, according to CMS’ timeline:
1. By Sept. 1, CMS will publish the first 10 Medicare Part D drugs selected for the Medicare Drug Price Negotiation Program.
2. The negotiated maximum fair prices for these drugs will be announced by Sept. 1, 2024, and prices will be in effect starting Jan. 1, 2026.
3. In future years, CMS will select for negotiation 15 more Part D drugs for 2027, 15 more Part B or Part D drugs for 2028, and 20 more Part B or Part D drugs for each year after that.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
