Senate Hearing on 'American Patients First' Drug Pricing Blueprint
January 1, 2020
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
The Frame
This hearing initiated the formal legislative review of the federal government's strategy to address rising prescription drug costs, which were projected to grow at an average of 6.3% annually through 2026.
Potentially affected actors named in the source documents. Mention is not a position.
Patients
Patients are the primary focus of the proposed blueprint, which aims to change the costs they pay for prescription medications.
Pharmacy Benefit Managers
The blueprint examines the role of PBMs in negotiating rebates, which impacts their current business model.
Pharmaceutical Manufacturers
Manufacturers are subject to potential policy changes regarding drug pricing and rebate structures.
Last recorded activity January 1, 2020.
Next step not available in the current record.
Summary
Key Facts
- The hearing took place on June 12, 2018, in the Dirksen Senate Office Building.
- The subject was the 'American Patients First' blueprint, announced by President Trump on May 11, 2018.
- Total U.S. spending on prescription drugs in 2015 was $457 billion.
- Prescription drug spending accounted for 6.7% of total U.S. healthcare spending in 2015.
- Prescription drug spending growth rates fluctuated between 1.3% in 2016 and 12.4% in 2014.
- Prescription drug spending is projected to grow at an average of 6.3% annually from 2017 to 2026.
- Pharmacy benefit managers (PBMs) negotiate rebates with manufacturers to reduce list prices, complicating the tracking of drug spending.
- The hearing was the fourth held by the committee on the topic of drug pricing during the 115th Congress.
Frequently Asked Questions
What is the 'American Patients First' blueprint?
Why is it difficult to track how much is spent on drugs?
Why It Matters
This hearing initiated the formal legislative review of the federal government's strategy to address rising prescription drug costs, which were projected to grow at an average of 6.3% annually through 2026.
News Coverage
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Focus on PBM Rebates
The hearing highlights a specific shift in policy focus toward the role of pharmacy benefit managers and rebates as a primary driver of drug pricing complexity.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
Publisher tools