As part of the annual STAT Summit, PhRMA President and CEO Stephen J. Ubl recently spoke with STAT’s Matthew Herper to discuss the many unintended consequences expected from the latest drug pricing plan on Capitol Hill, as well as the biopharmaceutical industry’s plans to help build a better health care system that improves patient access and protects innovation.
Right now, the conversation on Capitol Hill about drug pricing focuses on government price setting. The changes being proposed don’t address the root problems in our health care system, like a broken insurance system that leaves patients paying based on the list price of a medicine rather than the negotiated net price their insurer gets. To make medicines more affordable, we propose modernizing how Medicare covers and pays for medicines, making insurance work like insurance and ending misaligned incentives.
Learn more at PhRMA.org/BetterWay.
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