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Washington, DC, March 17, 2023 (GLOBE NEWSWIRE) -- On Friday, United States Representatives Buddy Carter (R-GA), Vicente Gonzalez D-TX), Elise Stefanik (R-NY), Deborah Ross (D-NC), Rick Allen (R-GA), and Jake Auchinclossto (D-MA) introduced bipartisan legislation to address certain anticompetitive market practices that impact specialty pharmacies. The Drug Price Transparency in Medicaid Act of 2023 would eliminate the practice of spread pricing in state Medicaid programs, no longer intentionally reducing pharmacy reimbursement through this practice.
National Association of Specialty Pharmacy (NASP) President and CEO Sheila Arquette, RPh stated,“NASP is pleased that bipartisan champions in the House have introduced a bill focused on protecting pharmacy and patient needs. Advancing this legislation will be a victory for patients, specialty pharmacies, the Medicaid program, and ultimately taxpayers. Anticompetitive business practices threaten specialty pharmacy businesses, and therefore, patient access to specialty pharmacies. Such practices ultimately result in patients forgoing the medications they need, resulting in life-threatening consequences and increased Medicaid costs through preventable hospitalizations and medical complications.”
“Addressing anti-competitive market practices impacting pharmacy is so important, especially as we seek to reduce health expenditures and support patients, particularly those with severe and complex medical conditions that require treatment with specialty medications. This bill will work to address practices by certain PBMs that are really intended to narrow pharmacy networks, harming Medicaid enrollee access to the pharmacies they need. NASP urges Congress to act on this important bill this year.”
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The National Association of Specialty Pharmacy (NASP) is the only national association representing all stakeholders in the specialty pharmacy industry. NASP members include the nation's leading specialty pharmacies, pharmaceutical and biotechnology manufacturers, group purchasing organizations, patient advocacy groups, integrated delivery systems, PBMs, health plans, technology and data management vendors, logistics providers, wholesalers/distributors and practicing pharmacists, nurses, and pharmacy technicians. With over 170 corporate members and 3000 individual members, NASP unifies the voices of specialty pharmacy in the United States.
National Association of Specialty Pharmacy, 300 New Jersey Ave NW, STE 900, Washington, DC 20001, (703) 842-0122
Tags nasp specialtypharmacy drugpricetransparency
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