Will Senate Finance Committee Chair Use Domestic Reference Pricing in Prescription Drug Negotiation Plan?

Allowing Medicare to negotiate prescription drug costs is one method of reducing healthcare costs. Now, Senate Finance Committee Chair Ron Wyden is reported to be contemplating a domestic reference pricing approach instead of an international benchmark. His bill also takes on soaring insulin prices.

“Senate Finance Committee Chair Ron Wyden is considering substituting domestic reference pricing for House Democrats’ international reference pricing scheme in his bill to let Medicare negotiate drug prices, and the Oregon Democrat is considering including a drug appraisal entity that would help government negotiators by assessing what drugs are worth, according to lobbyists who support government negotiation.” Read more here.

(Source: John Wilkerson, Inside Health Policy, 7/6/21)