Federal Drug Price Negotiation is Popular — Even Among Republicans
Having CMS negotiate drug prices is a policy favored by President Joe Biden and many Democrats, and it is a prominent feature of H.R. 3, also known as the Elijah Cummings Lower Drug Costs Now Act.
Having CMS negotiate drug prices is a policy favored by President Joe Biden and many Democrats, and it is a prominent feature of H.R. 3, also known as the Elijah Cummings Lower Drug Costs Now Act.
But according to a recent Kaiser Family Foundation tracking poll, a majority of people who identify as Republicans (76%) also favor the federal government negotiating drug prices with drug companies. Not surprisingly, the notion is even more popular among Democrats (91% in favor), with independents falling in between (85% in favor) the Republicans and Democrats. The poll was conducted from Sept. 23 to Oct. 4 and included just over 1,400 respondents.
Drugmakers and other groups are vigorously opposed to federal government negotiation of drug prices and are lobbying against H.R. 3 for a variety of reasons. One that is often voiced is that price negotiation would stifle innovation and the development of therapies to manage and cure disease. A large majority of the respondents to the Kaiser poll don’t have much stock in that argument.
They were asked which comes closer to their view “that even if U.S. prices were lower, drug companies would still make enough money to invest in the research needed to develop new drugs” or “drug companies need to charge high prices … to fund the innovative research necessary for developing new drugs.” Most (93%) picked the former, including 90% of Republicans, and only 6% picked the latter. Of course, the exact wording to questions like that can make a significant difference in how people respond.
Drugmakers and their allies who don’t want federal government negotiation of Medicare prices may take some solace in the attitude toward Biden and congressional Democrats revealed by the Kaiser survey. Less than half of the respondents indicated that they have confidence in either Biden (46%) or the Democrats (48%) to do the right thing on drug prices. But confidence was even lower in congressional Republicans, with only one-third (33%) believing they will do the right thing.
Breaking Down Health Plans, HSAs, AI With Paul Fronstin of EBRI
November 19th 2024Featured in this latest episode of Tuning In to the C-Suite podcast is Paul Fronstin, director of health benefits research at EBRI, who shed light on the evolving landscape of health benefits with editors of Managed Healthcare Executive.
Listen
A Motor Neuron Mystery Points to New Potential SMA Treatment Targets
December 20th 2024Some muscles are resistant to the loss of motor neurons seen in patients with spinal muscular atrophy, and new research has discovered that even in muscles that appeared resistant to SMA, subtle changes had occurred at the cellular level.
Read More
In this latest episode of Tuning In to the C-Suite podcast, Briana Contreras, an editor with MHE had the pleasure of meeting Loren McCaghy, director of consulting, health and consumer engagement and product insight at Accenture, to discuss the organization's latest report on U.S. consumers switching healthcare providers and insurance payers.
Listen
