Senator Lankford Introduces Two More Bipartisan Bills to Lower Prescription Drug Prices
WASHINGTON, DC –Senator James Lankford (R-OK) joined Senator Bill Cassidy, M.D. (R-LA) to introduce a package of bipartisan bills to lower the price of prescription drugs. Lankford and Cassidy introduced the Transparency for Pharmacists Act and the Right Price for Medicare Act with Senators Sherrod Brown (D-OH), Steve Daines (R-MT), John Tester (D-MT), John Kennedy (R-LA), and Shelley Moore Capito (R-WV).
“These important bipartisan drug price transparency bills represent first steps to actually fix our nation’s rising drug prices,” said Lankford “Much of the conversation in Oklahoma about drug prices centers on the black box of how drugs are priced and the rebate savings. Patients who want affordable health care need more choices and more transparency. I look forward to the full consideration of these common-sense ideas to help patients and American families get the cost information they want and need.”
“Prescription drugs cost too much,” said Dr. Cassidy. “Getting rid of loopholes and incentives lowers drug costs for patients and for taxpayers.”
Transparency for Pharmacists Act
This bill would provide certainty and assess quality performance for plans, CMS updates a standard set of quality metrics to hold plans accountable. To provide that same certainty and accountability to pharmacies, the bill directs the Secretary to develop evidence-based, clinical quality metrics, in consultation with stakeholders, for plans would contract with pharmacies under.
Right Price for Medicare Act
This bill fixes a loophole in Medicare that insurers are able to use to keep a higher share of profit from the taxpayer. Right now, insurers can hide revenue in “bona fide fees.” This bill would require those fees to be passed through to Medicare, lowering taxpayer exposure.
“Pharmacy middle-men shouldn’t be pocketing secret kickbacks instead of passing discounts onto customers. By requiring more transparency, we can hold the industry accountable to Ohio taxpayers and patients,” said Brown.
“It’s embarrassing how much more Americans spend on prescription drugs compared to the rest of the world,” said Kennedy. “This bipartisan legislation will help save taxpayer money, increase transparency and lower prescription drug costs. I’m glad we can come together to introduce bipartisan solutions to this major problem that so many Americans have to face each and every day.”
“The high cost of prescription drugs have been straining Montana’s hardworking families and seniors for far too long,” said Daines. “These bipartisan bills will increase transparency in the drug pricing system and stop the games by pharmacy middlemen in order to lower the costs of prescription drugs for Montanans and Americans.”