Today, Debra Barrett, Executive Director of the Coalition for Affordable Prescription Drugs, released the following statement on the passage of prescription drug price transparency legislation in the U.S. House:
“As PBMs and the employers, unions and retirees they work with to provide prescription drug coverage, we support meaningful transparency to deliver better health outcomes and lower drug costs at the pharmacy counter. PBMs and purchasers have been working collaboratively with policymakers to develop solutions to address the crisis of high and rising drug prices, including in the area of transparency. Transparency measures should focus on policies that are consumer relevant and will meaningfully help drive toward better care and lower drug costs at the pharmacy counter.
For example, we support enhanced transparency for patients and providers through the deployment of real-time benefits tools. Making patient-specific drug cost information available to providers and patients as they decide on a course of treatment increases a physician’s ability to prescribe a drug that the patient can afford and will be more likely to pick up at the pharmacy. These programs are already producing savings for American patients, and we urge Congress to strengthen these and other private-sector solutions.
CAPD supports sharing drug price and rebate data in a confidential manner with MedPAC and MACPAC to help policymakers and regulators strengthen these public programs while protecting the competitive negotiations that deliver savings for patients. We appreciate ongoing efforts in Congress to address high drug prices and are reviewing the legislation passed by the House last night. CAPD looks forward to continuing to work with policymakers and other stakeholders to ensure meaningful transparency throughout the drug supply chain.