Trump administration preps executive order on price transparency as lawmakers converge — WSJ
In a political sphere where Republicans and Democrats can find little common ground, the pharma industry in general — and price transparency in particular — has presented a rare opportunity for bipartisan agreement.
A slew of transparency bills are winding their way through congressional circles, with authors from both sides of the political aisles. And now the Wall Street Journal reports that pharma Critic-in-Chief Donald Trump is prepping an executive order that would require that consumers have access to the rates that have been negotiated throughout the system.
The Journal reports that their sources tell them meetings today are planned to review the new executive order — which could mark the end of a long era of private deals and price confusion, as public anger over out-of-pocket expenses continues to simmer.
The same push is underway on the hospital side of the business, as Trump continues his 2-year campaign to rein in healthcare prices any way he can. In particular, Trump has championed a move to curb drug prices and shed a light on prices. For lawmakers like Republican Bill Cassidy or Democrat Ron Wyden, it’s an issue that clearly resonates with their constituencies.
“No matter where I go in Louisiana, people are always mentioning the high cost of prescription drugs,” said Cassidy recently.
“The running theme through all of the above is that we need concrete solutions, not rhetoric, to tackle these issues seriously,” Wyden noted in a recent political missive. “Americans are paying too much for their prescription drugs, the drug pricing system in this country is fundamentally broken – and the time is now to fix it.
Change is coming, and it promises to scramble a marketing system that has been in place for years.