Earlier this summer, PhRMA released its new chart pack on biopharmaceuticals in government programs. It serves as a great resource for key facts and figures about major government programs, including prescription drug coverage in Medicare Parts B and Part D.
Medicare insures many of the nation’s retirees and people living with disabilities. Coverage of medicines for Medicare beneficiaries occurs primarily though Part D and Part B. Payments for medicines in Medicare Part D are negotiated by competing private health plans. Payments for medicines under Part B, which are generally injected or infused by a physician, are based on the average of prices negotiated by doctors and other purchasers. We’ve already covered some of the resources in our posts on generic utilization and Part B settings.
Check out the full chart pack here: http://www.phrma.org/gov-chartpack-2015
Below are a few of the resources included in the chart pack:
Part D Implementation Improved Enrollees’ Access to Medicine and Reduced Out-of-Pocket Costs
Peer reviewed and academic literature confirms Medicare Part D substantially reduced out-of-pocket costs and increased access to medicines for seniors.
Part D Implementation Tied to Reductions in Hospital Admissions
Researchers found that gaining Medicare Part D prescription drug coverage was tied to an 8 percent decrease in hospital admissions for seniors overall, with higher reductions for certain conditions.
Part B Medicines Represent Significant Medical AdvancesMedicare Monday series and share your thoughts on social media using the hashtag #MedicareMonday. Have questions about what Medicare covers? Visit Medicare.gov.
Andrew Powaleny Andrew Powaleny is Director of Public Affairs at PhRMA. Before joining PhRMA in 2015, he worked at the House Energy and Commerce Committee and later as a communications consultant. Andrew came to Washington, D.C. via Connecticut and proudly runs with the DC Front Runners and serves as its co-race director. He is also a member of the National Lesbian Gay Journalists Association and a proud alum of The Fund for American Studies. He’s passionate about scientific innovation, especially for mental illness, and his heroes are the men and women of America’s biopharmaceutical research companies.