Write a 1 to 2 page paper (Double-spaced, 12 Times Roman Font) addressing the following prompts. Each prompt does not need to be answered separately, just as long as they are addressed within the body of your paper.
Discussion Paper #1: Explaining the Prescription Drug Provisions in the Inflation Reduction Act
https://www.kff.org/medicare/issue-brief/explainin…
Write a 1 to 2 page paper (Double-spaced, 12 Times Roman Font) addressing the following prompts. Each prompt does not need to be answered separately, just as long as they are addressed within the body of your paper.
- Briefly explain what prevented Medicare from negotiating drug prices with drug manufacturers prior to passage of the IRA?
- Briefly explain the criteria by which Part D drugs and Part B drugs will be selected for price negotiations under the IRA? How are the drugs to be selected by Medicare?
- One of the IRA provisions is “Drugs that are less than 9 years (for small-molecule drugs) or 13 years (for biological products) from their FDA-approval or licensure date” will be excluded from the negotiation process. How does it protect and/or limit drug manufacturer revenues? How might it incentivize drug manufacturers to develop biologocal products over small-molecule drugs?
- Aside from negotiated lower prices on certain drugs with Medicare, how else might the IRA change the way drug manufacturers conduct their business? What are the potential ramifications?
Requirements: 1-2page