Report Finds 1,200+ Drug Prices Outstripped Inflation

A new report finds that over 1,200 prescription drugs had price hikes that outpaced inflation this year. Fortunately for patients, pharma companies will have to provide a rebates to the Centers for Medicare and Medicaid Services (CMS) for drugs that increase in price faster than inflation for Part B and Part D recipients.

According to Lecia Bushak, “The report release coincides with the Medicare Part D rebate provision from the Inflation Reduction Act going into effect. October 1 marked the beginning of the first 12-month period during which drug companies will have to pay rebates to Medicare if certain Part D drug prices rise faster than the rate of inflation during that period.”

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(Source: MM+M Online, October 5, 2022)