Medicare Price ‘Negotiation’ Process Gets Broad Brush Treatment In New Law
With enactment of the drug pricing reform provisions in the Inflation Reduction Act, stakeholders now turn their attention to the implementing regulations that will be developed by the Centers for Medicare and Medicaid Services.
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Guidance on how to implement a new policy to permit Part D beneficiaries to pay high copays in monthly installments (rather than all at once at the pharmacy counter) shows that there is no such thing as a straight-forward change in the drug benefit program.
Manufacturers will face the beginning of a second round of price negotiation on Feb. 1, 2025, almost a year before prices from the first round go into effect. Dates for negotiating prices that are implemented in 2027 and in later years will follow a different schedule because the IRA built more time into the process for the first year.