Health insurers in Virginia want to require more pricing transparency from the pharmaceutical industry, but drug companies are pushing back by saying this could be the first step toward government-related price controls that would stifle future innovations, according to an Associated Press article.
The Health Resources and Services Administration has proposed a new rule that would place a cap on how much drug manufacturers could charge safety-net hospitals participating in the 340B program for drugs intended for outpatient treatment.
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.
Payers need more outcomes data--clinical, economic and humanistic--from drug manufacturers for more informed decision-making, Managed Health Executive reported.
The Medicare Payment Advisory Commission (MedPAC) has begun considering recommendations that would require new disclosures regarding financial relationships between drug manufacturers, device