The issue of prescription drug prices continues to top the list of public concerns about health costs, and Congress and the administration are floating possible policy solutions. Solutions to this complex problem will be most effective if they are targeted and geared toward encouraging rather than undermining competition and innovation in the vibrant 21st century life sciences industry. One … [Read more...] about Biosimilar Drugs Offer Promise For Drug Price Savings, But Risks Remain
Medicare
New Taxes Won’t Lower Drug Prices
Prescription drug prices continue to be a hot political issue, with the Trump administration preparing to release an action plan as soon as repeal and replace legislation clears Congress. Mick Mulvaney, who heads the White House budget office and is participating in the talks, floated an idea last week that should quickly be crossed off the list of policy ideas. He told the LIGHT 2017 Forum at … [Read more...] about New Taxes Won’t Lower Drug Prices
Private Physician Practice Takes Another Blow From A New 2,400-Page Government Rule
Just before former House Speaker John Boehner handed the gavel to Paul Ryan, he shepherded legislation that eliminated a despised Medicare payment formula under which physicians faced a 21.2% pay reduction. Congress could not allow the pay cut to take place and take the risk that physicians would turn away their Medicare patients. But the “Sustainable Growth Rate” payment policy for Medicare … [Read more...] about Private Physician Practice Takes Another Blow From A New 2,400-Page Government Rule
MACRA: The Burden of Proof
MACRA: The Burden of Proof by Carol Monaco The Centers for Medicare and Medicaid Services has released a 2,398-page final rule implementing what is likely the most complex clinician payment program in Medicare’s history, known as the Quality Payment Program, born out of the Medicare Access & CHIP Reauthorization Act of 2015 or MACRA. As MACRA is implemented, the hope of financial … [Read more...] about MACRA: The Burden of Proof
Far-Reaching Medicare Part B Changes Violate Separation Of Powers — And With CBO’s Blessing
Members of Congress expressed outrage at the Congressional Budget Office during a recent House hearing for assuming that sweeping, untested changes to Medicare will save $34 billion “even before you know what the project is,” Rep. Scott Garrett (R-NJ) said. “There is no cost-benefit analysis, there is no testing done, you don’t even know what they’re going to be looking at, but you’re saying … [Read more...] about Far-Reaching Medicare Part B Changes Violate Separation Of Powers — And With CBO’s Blessing
Competition in Medicare Advantage, Part D, and “Extra Help”/ Working together for seniors and taxpayers
Seniors are beginning to get fliers in the mail alerting them to the upcoming open season for enrollment in Medicare Advantage and Medicare Part D prescription drug plans. Both programs rely on competition and consumer choice to increase options and hold down costs for seniors. Open season begins October 15 for those planning to enroll or switch plans. Seniors will have the opportunity to … [Read more...] about Competition in Medicare Advantage, Part D, and “Extra Help”/ Working together for seniors and taxpayers
CMS Rule On Biosimilar Payment Could Have Serious Side Effects
The Obama administration and leading members of Congress are clashing over a new Medicare payment rule that could compromise patient care, impede development of a fledgling part of the biologics industry, and make it more difficult to track patient safety issues. At issue is government payment policy for a new class of drugs called “biosimilars”—drugs that are similar but not identical to the … [Read more...] about CMS Rule On Biosimilar Payment Could Have Serious Side Effects
Medicare’s Birthday: A Failed Centralized Program Turns 50
Fifty years ago, President Lyndon Johnson traveled to Independence, Mo., to sign legislation creating Medicare and Medicaid in the presence of fellow Democrat and former President Harry Truman, who during his presidency led unsuccessful efforts to establish a national health insurance system. The battle over the legislation was long and bruising, with conservatives including then-General … [Read more...] about Medicare’s Birthday: A Failed Centralized Program Turns 50