President Trump announced Wide range of presidential orders On Tuesday, aimed at lowering drug prices, the aim is to increase transparency into fees charged by intermediaries and limit Medicare payments for outpatient services offered by hospitals. Many orders require further rules or other actions to work.
Medicare drug price negotiations
The administration has announced several initiatives aimed at reducing healthcare costs for seniors and people with disabilities who are dependent on Medicare. Some of them are built from the Medicare Drug Price Negotiation Program, one of the signatures made by former President Biden.
The executive order outlines plans to expand Medicare drug price negotiations. The program, created under the Inflation Reduction Act, a 2022 law that combines healthcare reform and energy initiatives, announced a second slate of drugs in January where prices will be negotiated just before the former president resigns. Trump’s order called the program’s goals “admiration” but said administrative complexity is hampering its ability to achieve significant savings.
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