Pharma needs help preparing for IRA, new tool suggests
Half of pharma execs are bracing for significant revenue impact from Medicare price negotiations this year, compared to just 22% in 2023, according to research from revenue and compliance experts at Model N.
Model N’s 2024 State of Revenue Report finds that pharmaceutical executives are preparing for a significant revenue impact from the Biden administration’s Inflation Reduction Act (IRA) in the USA.
This legislation aims to lower prescription drug costs for Medicare beneficiaries through provisions allowing the program to negotiate prices for certain high-cost drugs and requiring manufacturers to pay rebates for any price changes higher than the inflation rate.
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