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The American Society of Health-System Pharmacists (ASHP) reported that 323 "active medication shortages" were reported in January–March 2024. As a result of drug scarcity, many healthcare systems were forced to either ration out essential drugs, triage patients based on the severity of their condition and their need for the drug, or both.
After nearly six months of negotiations and several court rulings, Medicare and drugmakers agreed on new prices for 10 popular drugs, potentially saving users $1.5 billion in out-of-pocket costs.
Starting Jan. 1, older adults on Medicare will spend no more than $2,000 a year on prescription drugs when a new price cap on out-of-pocket payments from the Inflation Reduction Act goes into effect.
January 31, 2024 at 10:29 AM. President Joe Biden speaks on Medicare plan. ... The act also set a $2,000 price cap on out-of-pocket drug expenses for Medicare Part D enrollees.
Starting in fiscal year 2024, 50 drugs with the same criteria as before would need to have their price negotiated. Any newly approved, single-source, brand name drugs that exceeds a price threshold that the HHS has set that was determined to likely to meet the spending criteria. The negotiated drug prices would have to meet the following criteria:
Prescription drug list prices in the United States continually are among the highest in the world. [1] [2] The high cost of prescription drugs became a major topic of discussion in the 21st century, leading up to the American health care reform debate of 2009, and received renewed attention in 2015.
The administration negotiated discounts with pharmaceutical companies on 10 drugs prescribed to treat blood clots, cancer, heart disease and diabetes. The discounts will range from 38% to 79% when ...
Provincial and territorial government provide partial prescription drug coverage and the overall drug payment is a mix of public taxation, private insurance and out-of-pocket expenses. [ 4 ] [ 6 ] Insurance coverage differs regionally, although each public drug coverage plan must meet standards set by the federal government. [ 6 ]