TSCL has been fighting for years for ways to lower prescription drug prices. One of the ways to do that is to allow Medicare to negotiate the prices of drugs with the drug companies.
Now, a new report confirms how much money that could save. Medicare Part D spent more than twice as much on hundreds of prescription drugs than the Department of Veterans Affairs in 2017, largely because the agency representing military veterans was able to negotiate prices directly with drug makers according to the report.
Specifically, the VA paid 54% percent less, on average, than the Medicare program for 399 brand-name and generic medicines, even after accounting rebates and other pricing discounts. Of those medicines, VA paid 68% less for 203 generics and 49% less for 196 brand-name drugs.
As part of its efforts to reduce the costs of prescription drugs, Congress must pass legislation allowing Medicare to negotiate with the drug companies the same way the Department of Veterans Affairs does. TSCL will be working hard this year for legislation to do just that.
