The Role of the Inflation Reduction Act in Enhancing Biosimilar Uptake
The Impact of the Inflation Reduction Act (IRA) on Biosimilars
The Inflation Reduction Act (IRA) has generated discussions about its potential to boost the biosimilar market, particularly for oncology treatments. A new white paper from Centara highlights how this legislation, while aimed at enhancing reimbursement for biosimilars under Medicare, has had limited effects on actual uptake rates.
Understanding the Current Landscape
- The IRA was signed into law in 2022 and includes measures to increase Medicare rebates for biosimilars.
- Enhanced reimbursement initiatives aim to support providers in prescribing biosimilars rather than originator drugs.
- Despite these incentives, existing market competition impacts the overall effectiveness of the IRA.
Survey Results and Key Findings
A survey of facilities administering oncology therapies revealed:
- Moderate awareness of IRA policies among healthcare staff, with 95% of leadership informed.
- 91% of facilities have adopted at least one biosimilar, particularly in oncology.
- Reimbursement incentives from CMS are driving biosimilar adoption but barriers remain.
Overall, while the IRA has initiated some discussion around biosimilars, the actual changes in utilization remain modest, reflecting the need for further strategic efforts to enhance adoption.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.