I will be speaking at the upcoming American Health Law Association, Institute on Medicare and Medicaid Payment Issues on the impact of the Inflation Reduction Act of 2022 on healthcare providers, specifically pharmacies.

Overview of the presentation:

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA)—the law’s “Prescription Drug Pricing Reform” provisions represent the most significant changes to Medicare payment for drugs and biologicals in decades.

• Among other provisions, the law authorizes the Medicare program to negotiate prices for certain Medicare-covered drugs, and requires manufacturers that raise their drug prices faster than the rate of inflation to pay a rebate to Medicare and reduces Part B coinsurance for these drugs for people with Medicare.
• The law also contains several other provisions intended to reduce out-of-pocket expenditures for Medicare beneficiaries for drugs and certain vaccines
  CMS’ ongoing implementation of the IRA’s Prescription Drug Pricing Reform provisions for initial price applicability year (IPAY) 2026 and beyond.
• The key statutory provisions, timelines, and the steps CMS has taken to implement them to date, with a primary focus on the drug price negotiation provisions.
• Legal considerations for pharmaceutical companies, pharmacies, and providers as a result of the changes under the IRA, and how those changes will affect patients in the coming years.