New Biden proposal would expose the actual cost of drugs covered by Medicaid
Building off its new negotiating powers thanks to the Inflation Reduction Act, the Biden administration and Centers for Medicare and Medicaid Services (CMS) late yesterday proposed a new rule that could help states better understand what the most expensive drugs on the market today actually cost to manufacture and distribute.
The proposal would give CMS and states new tools, like a drug price verification survey, which could help verify drug prices and increase transparency about why certain drug prices are expensive for Medicaid, and help states better negotiate what they pay for high-cost drugs.
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