Administration Announces Proposed Model to Address Prescription Drug Costs

October 26, 2018

On October 25, 2018, CMS released the International Pricing Index Model for Medicare Part B Drugs, an advanced notice of a proposed rule that, if implemented, would establish a pilot program to test ways to lower the costs of drugs. Provisions in the proposal include benchmarking some part B drug prices against other countries and changing how providers get paid for administering drugs to patients. The proposal marks the most sweeping changes the Administration has put forth to implement the President Trump’s “blueprint to lower drug prices and reduce out-of-pocket costs.”

ASCO shares the Administration’s goal of achieving lower drug costs but is concerned about some aspects of the proposal. ASCO is analyzing the proposal to determine the impact on patient care and practices. The society will respond to the Administration’s questions and request for feedback included in the proposed model to ensure that changes in physician reimbursement do not threaten access to patient care. ASCO will submit comments during the proposal’s 60-day open comment period.

Watch ASCO in Action for updates on the proposed drug pricing model and breaking cancer policy news.