Weekly News Wire | December 10, 2020
CMS Announces New Medicare Part B Prescription Drug Payment Model Linking Prices To Other Countries
On November 1, 2020, the Centers for Medicare & Medicaid Services (CMS) announced a new Medicare Part B prescription drug payment model, the Most Favored Nation (MFN) Model, that will lower prescription drug costs by paying no more for high-cost Medicare Part B drugs and biologicals than the lowest price that each specific drug manufacturer receives for the medication in other similar countries. The model comes in response to President Trump’s July 24, 2020 Executive Order on “Lowering Prices for Patients by Eliminating Kickbacks to Middlemen”.
The MFN will operate for seven years, from January 1, 2021, to . . .
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