PhRMA Outlines Value-Based Policies to Improve Drug Reimbursement
InsideHealthPolicy reported that as a result of a January 31, 2017 meeting between pharmaceutical executives and President Donald Trump, “drug industry representatives are publicly talking more about basing drug prices on value” and pushing a number of policies to make it easier to base drug prices on outcomes. In recent weeks, the President suggested that he'd like to let “Medicare negotiate drug prices. … However, the president toned down the rhetoric during the meeting with drug executives, according to pool reports, and seemed to say he opposes Medicare ‘price-fixing.’” PhRMA is suggesting reforms such as overhauling policies on Medicaid best price, drug discounts for public programs, rebates for private middlemen, anti-kickback laws, FDA restrictions on what drug companies may say about products during development and insurance benefit designs. PhRMA is also seeking increased oversight of pricing under programs such as 340B, which they say distort the market. There is little detail of what was discussed in the industry’s meeting with the President and no concrete plans emerged from the meeting.