AAM All Access Podcast - Dan Leonard speaks with Mary Beth Powers, President and CEO of CMMB.

Medicare

Patients Pay More When Generic Drugs Are Placed On Non-Generic Tiers, Even Though Prices For Generics Are Going Down

Numerous studies agree: Generics provide savings on prescription drugs. And six years into a sustained period of price deflation, many generic prices are lower than ever. But inexplicably, patients are paying more for many generics. Although the Medicare program has rules to safeguard beneficiaries, it has allowed Medicare drug plans to make changes that require patients to pay more for many generic drugs even as the prices of those drugs have fallen.

AAM Statement on the Centers for Medicare & Medicaid Services’ Implementation of Medicare Part B Payment Changes for Biosimilars

WASHINGTON D.C. (October 3, 2022) -- The Association for Accessible Medicines (AAM) and its Biosimilars Council applaud the Centers for Medicare & Medicaid Services for its support of biosimilars and rapid implementation of the enhanced payment for biosimilars in Medicare Part B. 

Generic and Biosimilar Drugs Generate A Record $373 Billion For America’s Patients and Healthcare System in 2021

Despite Savings from Generic Drugs, Many Patients Continue to Pay More than Necessary

WASHINGTON, DC (September 21, 2022) — Today, the Association for Accessible Medicines (AAM), the leading trade association for generic and biosimilar manufacturers, released its 2022 U.S. Generic & Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar medicines.

As Health Care Spending in US Projected to Increase, Generics and Biosimilars Expected to Moderate Growth

Recently, the Centers for Medicare & Medicaid Services (CMS) released the 2021-2030 National Health Expenditure (NHE) report, prepared by their Office of the Actuary. The report serves as the authoritative estimate of total U.S. health spending and provides important clues as to what is (and is not) driving health care costs.1

Challenges & Solutions for Prescription Drug Savings Identified by MedPAC

As policymakers seek to respond to concerns about high drug costs, a recent report may provide a path forward. The Medicare Payment Advisory Commission (MedPAC) provides independent expert advice to Congress on Medicare payment policies and in a recent report to Congress, it recommends key changes to the Part D program that could serve as a foundation for sustainable savings through generic and biosimilar adoption.

HHS OIG Report Demonstrates Need for Changes to Part D to Increase Biosimilar Use

Biosimilars provide more options for care at a lower cost for patients, but due to Medicare’s perverse incentives, many PBMs and health plans have been slow to prioritize biosimilars, leavings savings on the table. Last week, the HHS Inspector General (OIG) released an important analysis that drives home just how poorly Medicare plans are doing when it comes to making FDA-approved biosimilars available to America’s seniors.

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