Biden Administration Takes Bold Steps to Lower Health Care Costs and Challenge High Drug Prices
The Biden-Harris Administration has announced new actions to promote competition in healthcare and lower prescription drug costs. This includes releasing a proposed framework for agencies on the exercise of march-in rights on taxpayer-funded drugs, which considers price as a factor in determining accessibility. The administration is also launching a public inquiry into corporate greed in healthcare, scrutinizing anticompetitive acquisitions and practices, increasing ownership transparency, and improving Medicare Advantage transparency. These actions build on previous efforts to negotiate and lower drug prices, crack down on anticompetitive practices, increase healthcare competition, and improve the quality and availability of care.