AAM Says Seniors Are Missing Out On Medicare Savings
The US Association Has Urged Policymakers To Modernize Medicare Part D
The AAM’s latest study reveals that the Medicare Part D program continues to underperform compared to commercial plans in providing patients with access to generic medicines. The industry association has also urged policymakers to modernize Medicare Part D.
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A study published in the Journal of the American Medical Association has found that while Medicare coverage of generic drugs likely improves patient adherence and reduces other health care utilization, inefficiencies stemming from its “complex and opaque system of intermediaries” mean that it has overpaid on most prescription generics compared to retailer Costco.
The AAM has cited multiple reasons for the failure of Medicare Part D to get new generics to its patients, forcing up their costs. The association has offered a list of suggestions to “ensure that first generics are covered at launch, with lower cost-sharing.”
Study sponsored by Association for Accessible Medicines suggests quirks in Part D benefit design and rebating practices are driving the trend.