Week in Review: The Latest from PhRMA

Special Edition Medicare Monday: This week, Richard I. Smith, principal, RIS Consulting and past executive vice president for Policy and Research at PhRMA, shed light on the Medicare Payment Advisory Commission’s (MedPAC) discussion about drug spending in Medicare in a special “Medicare Monday” series:

• Part I: Smith reveals that prescription medicines’ share of Medicare spending was nearly the same in 2007 and 2013, even as many important advances in medicines reached patients.
• Part II: In Part II, Smith explains why the share of spending on drugs in Medicare is different than in the overall National Health Expenditures.

New Cholesterol-Lowering Medicines: Express Scripts announced it will cover two new cholesterol-lowering medicines because of substantial – and typical – discounts negotiated. Learn about how our nation’s competitive marketplace works to control costs while encouraging the development of new therapies.

Managing Chronic Conditions: A recent study from Health Affairs looks at the potential impact of higher cost sharing on medicines and spending on other health care services. Findings from the study underscored the importance of estimating out-of-pocket costs when selecting a health insurance exchange plan, particularly among individuals living with one or more chronic conditions.

Innovating for Mental Health Patients: America’s biopharmaceutical research companies are currently developing 119 medicines to help improve the lives of Americans affected by mental health disorders. Find out more in honor of Mental Health Awareness Week.

Importing Drugs Is Bad for Patients: Importation is often viewed as a means to lower drug costs, but these proposals ignore key facts about how importation impacts patient safety and access to new, innovative treatments.

Medicare Monday: This week’s post highlights the importance of preserving Medicare Part D’s Extra Help program, which ensures that beneficiaries with limited incomes can afford needed medicines.