PhRMA hails impact of Medicare Modernization Act
In a blog post, US industry lobbyist the Pharmaceutical Research and Manufacturers of America (PhRMA) has drawn attention to a recent analysis which compares the impact of the switch from Average Wholesale Price (AWP) for Medicare Part B medicines to the Average Sales Price (ASP) system.
The change was brought in by the Medicare Modernization Act of 2003, which also implemented changes to Part B to make it more market based.
As a result of the policy change, The Moran Company concludes the government and seniors saved a total of $132 billion between 2005 and 2017.
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