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Home » McCaskill to Medicare: Negotiate Better, Save Billions
McCaskill to Medicare: Negotiate Better, Save Billions
August 3, 2018
Medicare could save billions of dollars each year if the federal government negotiated directly with drug companies for all federal drug benefit programs including Medicare Part D, according to a new report released Wednesday by Sen. Claire McCaskill (D-Mo.).
Democrats on the Homeland Security and Governmental Affairs Committee analyzed rising prices for brand-name drugs commonly prescribed to seniors and found the feds and patients could save megabucks if Medicare Part D had access to negotiated federal pricing.
Medicare and its beneficiaries could save a whopping $2.8 billion on the 20 most commonly prescribed brand name drugs — even when accounting for the 17.5 percent average rebate for the drugs, the study says.
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