President Trump announced a new plan to control drug costs, but it lacked the punch advocates were hoping for. Many of the proposed policies are modest steps that have already been taken or that will require more time and study, including changes to purchasing by federal programs and additional changes related to rebates from drug companies and drug discounts provided to health care organizations. Not included is Trump’s campaign promise to allow Medicare to negotiate drug prices, which would be a meaningful step to rein in drug prices. Trump’s speech took aim at pharmaceutical companies and pharmacy benefit managers but lacked the bold steps many advocates hoped for. Community Catalyst Executive Director Rob Restuccia summed up the elements needed for an effective cost control plan: “A real agenda for controlling drug prices must include aggressive price negotiation and end the manipulative practices of the drug industry that discourage and delay competition. That agenda should also prevent misleading marketing to consumers and providers and include measures to provide unbiased information to physicians to help them prescribe safely and cost-effectively.”
This is a complex issue that needs to be tackled; health care costs are top of mind for health care voters this fall, and prescription drug costs are at the top of the list regardless of party affiliation.
The Kaiser Family Foundation also found that drug costs are a bigger obstacle for women than men.