HHS has sent a proposal to the White House for review that aims to lower prices on prescription drugs by tying them to the prices that economically similar countries pay, according to The Hill.
Four things to know:
1. Under the proposal, CMS would establish an "international pricing index" and use it as a benchmark to decide how much Medicare would pay for drugs covered by Part B, which covers physician visits for seniors and drugs prescribed to them during their visits.
2. The proposal, first unveiled Oct. 25, 2018, aims to close the gap between what the U.S. pays for drugs and what other countries pay.
3. It is unclear how long the process of White House review will take and whether any significant changes will be made.
4. The pharmaceutical industry opposes an international pricing index.
Read the full report here.
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