For Immediate Release
Contact: Leah Hunter, email@example.com
Charlie Patterson, Charlie@sqcomms.com
Alliance of Community Health Plans Supports the Fair Accountability and Innovative Research Drug Pricing Act of 2017
Washington, D.C. – (May 16, 2017) – The Alliance of Community Health Plans has endorsed The Fair Accountability and Innovative Research Drug Pricing Act of 2017, introduced by Senators John McCain and Tammy Baldwin today. The bipartisan and bicameral legislation would provide much needed transparency in the way prescription drug prices are set and is a strong first step in addressing the issue of skyrocketing drug costs.
“ACHP members see the significant financial burden high prescription drug costs have on patients every single day,” said ACHP President and CEO Ceci Connolly. “Our community-based plans have implemented successful medication management programs to educate patients about how to best handle their prescriptions, and to also help address any gaps in care – but more action is necessary to help people afford their prescriptions and get unsustainably high drug costs under control. ACHP is encouraged by the bill’s focus on transparency and accountability in drug pricing and looks forward to working with Congress on this important issue.”
The FAIR Drug Pricing Act of 2017 would implement mandatory disclosure from drug manufacturers to provide more information about drug price increases and would require reporting of research and development costs. It would also require drug manufacturers to provide a 30 day warning to the U.S. Department of Health and Human Services prior to a price increase, along with justification and data related to each price hike. Currently, the list price of a medication can increase a few times a year without warning, which places unfair burden on both consumers and the health care system alike.
ACHP has long been committed to increased transparency in drug pricing, including the disclosure of research and development costs for drug manufacturing and believes that transparency is a critical first step in creating a competitive and effective pharmaceuticals market. ACHP endorsed The Fair Drug Pricing Act when it was introduced in the 114th Congress. ACHP supports the availability and affordability of generic drugs and incentivizing competition for additional drugs to enter the market. In addition, ACHP’s infographic series highlights drug cost trends for widely prescribed drugs within various therapeutic classes and communicates the potential effect of these prices on key stakeholders.
The full text of the letter sent to Senators Baldwin and McCain can be found here.
The Alliance of Community Health Plans (ACHP) is a national leadership organization bringing together innovative health plans and provider groups that are among America’s best at delivering affordable, high-quality coverage and care. ACHP’s member health plans provide coverage and care for more than 18 million Americans across 27 states and the District of Columbia. These organizations focus on improving the health of the communities they serve and are on the leading edge of innovations in affordability and quality of care, including primary care redesign, payment reform, accountable health care delivery and use of information technology. To learn more, go to www.achp.org and follow ACHP on Twitter @_ACHP.