Health and Human Services Secretary Xavier Becerra indicated that if the new negotiated prices for drugs were applied in 2023, Medicare could have saved $6 billion and beneficiaries $1.5 billion.
The program selected the first 10 medicines for negotiation last year based on conditions set in the Inflation Reduction Act, which allowed Medicare to finally negotiate drug prices.
Sen. Amy Klobuchar emphasized that lifting the ban on Medicare drug price negotiation was a long-fought battle, and joining advocates highlights the importance of this negotiation.
The negotiated prices, which will be rolled out in January 2026 after a year of rigorous discussions, signify a major shift in how Medicare can handle drug pricing.
#medicare #drug-pricing-negotiation #inflation-reduction-act #healthcare-savings #pharmaceutical-companies
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