PCMA: Choice, Competition Driving Down Seniorsb Drug Costs; 'One- Size-Fits-All' Approach Would Increase Costs, Reduce Choices
Posted on: Friday, 24 March 2006, 12:00 CST
WASHINGTON, March 24 /U.S. Newswire/ -- The Pharmaceutical Care Management Association (PCMA) issued the following statement in response to a report issued Thursday by the Institute for Americabs Future, an arm of Americans United, which is a single-payer group that opposes providing seniors with more choice and competition in Medicare prescription drug benefit:
"Less than 90 days into the new Medicare prescription drug benefit, more than 25 million seniors are seeing expanded access and deep discounts on a wide range of prescription drugs. PCMA's own analysis of the top 100 drugs seniors use has found that Medicare drug plans are saving beneficiaries an average of 35 percent on medications purchased at retail pharmacies and 46 percent on medications purchased through mail-service pharmacies.
"Despite this news, Americans United appears more intent on recycling the same tired arguments that a 'one-size-fits all' approach is the only way to expand coverage and lower drug costs for seniors. The Veteransb Administration (VA) model they tout would result in fewer drug choices for seniors and result in a massive cost-shift to working families, small businesses, and Fortune 500 companies.
"The limited experience the federal government has in negotiating and administering drug benefits for small groups of beneficiaries is hardly encouraging. In Medicare Part B, the federal government overpaid physicians for oncology drugs and other physician- administered drugs by billions of dollars. With respect to Medicaid, the Office of Inspector of General has found that Medicaid overpaid pharmacies by 47 percent for Medicaid drugs. This record is hardly a model to replicate in the Medicare drug benefit."
http://www.usnewswire.com
Source: U.S. Newswire
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