05.09.19

Alexander Statement on Administration Rule to Require Drug Companies to Disclose to Consumers List Prices on TV Ads

“The Trump Administration rule is a smart idea because the more consumers know about drug prices the more likely those prices are to be lower."

WASHINGTON, May 9, 2019 — Senate Health Committee Chairman Lamar Alexander (R-Tenn.) released the following statement after the Trump Administration finalized a rule to require drug makers to disclose list prices to consumers in TV advertisements:

“The Trump Administration rule is a smart idea because the more consumers know about drug prices the more likely those prices are to be lower. The Senate has already voted unanimously to make this happen last congress, and will work together again with the House to make it a law this year. I look forward to this important information about list prices getting to patients.”

Background:

The Senate health committee Alexander chairs held five hearings last year on how to reduce health care costs. The committee also held four hearings to explore specifically the costs of prescription drugs. 

Alexander sent a letter at the conclusion of the last Congress to the American Enterprise Institute, the Brookings Institute, governors, state insurance commissioners, economists, doctors, hospitals, patients, and innovators asking for specific recommendations about what Congress could do to help lower the cost of health care services. The Senate health committee plans to mark up legislation based on those recommendations this summer. 

The recommendations received by the committee include increasing transparency, lowering prescription drug costs, eliminating surprise billing, expanding primary care, improving electronic health records and addressing consolidation.

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