The federal government could save anywhere between $15.2 billion and $16 billion annually if it negotiated Medicare Part D prescription prices with drug makers.
Medicare Part D covers the bulk of medications commonly used by both Medicare and Medicaid beneficiaries, according to a new report from the Office of the Inspector General (OIG).
In his recent 2016 budget request to Congress, President Barack Obama expressed growing concerns over the high costs of Medicare prescription drugs. His solution to the problem: Let Medicare officials negotiate prices with drug manufacturers. Currently, federal law prohibits such negotiations.
Medicaid saw a big increase in prescription drug use last year, especially in states that expanded the program under the Affordable Care Act. Meanwhile, private insurers experienced a drop in prescription meds and their members also visited doctors less often, according to a new report from the IMS Institute for Healthcare Informatics.
After facing harsh scrutiny for placing HIV and AIDS prescription drugs in the highest category of cost sharing, insurers are making moves to reduce out-of-pocket costs for these pricey medications.
Healthcare spending, which had been tempered in recent years by the fiscal constraints of the Great Recession, appears to be moving on an upward track for the long term.
Health insurers have long complained about being blindsided when it comes to prescription drug prices--and claiming they've been left in the dark has provided insurers with justification for increasing premiums. But is it a sound argument?
There's currently a schism between healthcare prices and healthcare spending. Prices are budging only grudgingly. That's likely the confluence of the Great Recession, the Affordable Care Act...
The Obama administration's proposed $4 trillion budget for Fiscal Year 2016 includes a provision that would allow the federal government to negotiate prices for costly drugs covered under the Medicare Part D program. High-income Medicare beneficiaries would dish out more for coverage and have higher deductibles for doctor visits.
New evidence has surfaced that claims insurers continue to discriminate against costly, sick patients.