(Washington, D.C.) —Pharmaceutical Care Management Association (PCMA) President and CEO JC Scott issued the following statement on the Administration’s final Medicare Part D rule:
“We share the administration’s goal of reducing prescription drug costs in Medicare.
We are pleased with the administration’s thoughtful approach to overseeing price concessions negotiated between pharmacies and PBMs that are reflected in beneficiaries’ cost sharing. These competitive negotiations between PBMs and pharmacies generate significant savings for the federal government and beneficiaries, while incentivizing pharmacies to meet quality standards, such as generic dispensing rates.
In Medicare Part B, allowing the use of step therapy through Medicare Advantage Prescription Drug Plans is an important step toward reducing costs for the program and beneficiaries. Some of the highest priced drugs are found in Medicare Part B, where PBMs currently don’t play any meaningful role.
In addition, we appreciate the administration taking steps to allow for greater use of PBM tools in Medicare’s so-called ‘protected classes.’
PBMs agree that price transparency is needed for enhanced communication regarding drug costs among payers, prescribers, and beneficiaries. Providing real-time prescription benefit information empowers patients and their physicians to make better health care decisions. Many PBMs already use real-time benefits technology.
By allowing for additional time to implement new systems on real-time benefits will allow for the proper evaluation on any potential impact to beneficiaries.
We look forward to continuing to work with the administration to find ways to improve benefits and reduce costs in Medicare.”