Oncology Drug Prices Under the Inflation Reduction Act: What to Expect
Oncology Drug Prices and the IRA
With the Inflation Reduction Act (IRA) initiating rounds of drug price negotiations, the impact on oncology practices is becoming increasingly concerning. Recent insights from Nick Ferreyros, managing director at the Community Oncology Alliance (COA), highlight potential reimbursement cuts of up to 49% for oncology drugs under Medicare.
Future of Drug Price Negotiations
As more drugs are expected to be added to the IRA negotiation list, questions arise about sustainability for community oncology practices. The idiomatic expression of concern reflects the necessity to keep close tabs on the negotiation outcomes.
Advocacy for Change
- Community oncology practices are calling for congressional action to fix the IRA process.
- Potential consequences include a reduction in basic drug funding while still achieving lower prices for the public.
- COA's advocacy emphasizes the need for providers not to suffer due to negotiation practices.
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