WASHINGTON — Medicare on Friday released new details about how its new drug price negotiation program will work, just two months before it’s set to start.
Medicare released an initial outline of how the program will work in March. Some parts, including the outline of how drugs would be selected for the negotiation process, were immediately final. The agency asked drug companies, patients and other affected parties to weigh in on other parts about how the process would proceed, what factors would be considered, and how drug makers would be held accountable.
The negotiation process was created last August in Democrats’ drug pricing reform law, and Medicare is supposed to select the first 10 drugs that will be subject to negotiation by Sept. 1.