- Several states in the US are responding to widespread frustration over soaring prescription drug costs by establishing specialized public boards tasked with investigating and regulating drug pricing. Modeled after utility boards, these entities aim to ensure that prescription medications remain affordable for consumers. Some states have empowered these boards to regulate prices for specific groups like state employees or Medicaid beneficiaries, while others, such as Colorado, Minnesota, and Washington, have granted broader authority to oversee prices statewide. Despite the proliferation of these boards—11 states have created them in the past five years, with more considering similar legislation—significant cost savings for consumers have yet to materialize. Challenges include administrative hurdles and opposition from various stakeholders in the pharmaceutical supply chain concerned about potential impacts on access and innovation. (Article here)
July 17, 2024
Access & Coverage | Tea Leaves