July 13, 2017
HHS Secretary Price: Trump Administration Is Taking Action on Drug Prices
Health and Human Services Secretary Tom Price, M.D. released the following statement regarding the Centers for Medicare & Medicaid Services’ announcement of proposed reimbursement changes to the 340B drug discount program for Medicare and our nation’s seniors:
“Today’s announcement is a significant step toward fulfilling President Trump’s promise to address rising drug prices. We are proud to be working to ensure the Medicare program provides the drugs seniors need at a price they can afford.
“This proposal has the potential to reduce drug costs for seniors, by at least an estimated $180 million per year. If it is adopted, Medicare would pay hospitals for drugs purchased through the 340B discount program at a price more consistent with the actual cost hospitals and other providers pay to acquire those drugs. Seniors would see those savings passed on to them in the form of lower copays.
“The Medicare proposal is just one step in many efforts underway across HHS to address pricing and availability of drugs. Today’s proposed Medicare payment rule also includes other measures to help put patients first, part of a broader effort we are undertaking at HHS.”
For more details, see materials from the Centers for Medicare & Medicaid Services here.