Advocacy & Practice Updates — Advocacy & Practice
President Biden Signs Executive Order on Drug Pricing
Late last week, President Biden directed the administration to explore additional means of lowering the cost of prescription drugs. Specifically, the executive order instructs the CMS Innovation Center to develop new drug pricing models and gives CMS 90 days to submit a plan on the new models. These models would be in addition to new authority Medicare has to negotiate drug prices from the Inflation Reduction Act. As a reminder, the Innovation Center developed the two previous models—the Part B Model during the Obama Administration and the Most-Favored Nation model during the Trump Administration—that were never implemented.
(Published 10.19.22)