Last week, U.S. Sen. Rick Scott, R-Fla., unveiled a proposal to offer more transparency on prescription drug prices.
Scott introduced the “Prescription Drug Price Reporting Act” which, he insists, will “provide much-needed transparency for prescription drug process” by creating a “consumer-friendly database of prescription drug prices, which will empower American families to make informed healthcare choices.”
On Friday, Scott showcased the bill which U.S. Sen. Susan Collins, R-Maine, and U.S. Sen. Cory Gardner, R-Col., are cosponsoring.
“There’s no reason patients shouldn’t know exactly what their prescription drugs cost before they get to the pharmacy. Today, I’m introducing the Prescription Drug Price Reporting Act to give patients the information they need to make informed decisions for themselves and their families. Even in the hyper-partisan, dysfunctional world of Washington, D.C., creating more transparency in the healthcare system is something we must get done now to help families across our nation,” Scott said.
“I hear frequently from families across Colorado, who are suffering from the rising cost of prescription drugs,” Gardner said. “Creating transparency in prescription drug pricing will help ensure that Americans everywhere can have affordable access to the treatments they need and this legislation is an important step in the right direction.”
“The skyrocketing cost of prescriptions places a tremendous strain on family budgets, particularly for older Americans, 90 percent of whom take at least one medication every day,” Collins said. “As the chairman of the Senate Aging Committee, I have held multiple hearings investigating this issue and have authored legislation to reduce drug costs. By increasing the transparency of manufacturers’ pricing, this bill will help bring greater accountability to a drug pricing system that is badly broken.”
Scott’s office laid out what the proposal will do.
“The Prescription Drug Price Reporting Act will create transparency in pharmaceutical prices by creating a central federal database website. The database will include pharmaceutical list prices, average net price, and aggregate manufacturer rebates,” Scott’s office noted.
The senator’s office insisted the proposal will also ensure drug companies have to offer the rationale behind price increases.
“Each manufacturer of a prescription drug will be required to report financial and non-financial factors for the price change,” Scott’s office insisted.
The bill was sent to the U.S. Senate Health, Education, Labor, and Pensions Committee on Thursday. So far, there is no version of the proposal over in the U.S. House.
Kevin Derby can be reached at kevin.derby@floridadaily.com
Bradford Buckley
May 31, 2019, 9:45 pm at 9:45 pm
What a typical, stupid Republican worthless attempt to address the high cost of drugs. But what is expected from a medicare thief whose favorite legal phrase is use of the 5th amendment. You are pathetic as the so called President lyin Don.
Carole Bergen, Ph.D.
June 1, 2019, 10:21 am at 10:21 am
The prescription drug act that has been proposed does not really address the high cost that Americans have to pay for their prescription drugs. For years I have seen Canada’s ability to offer considerably lower prices, generics unavailable in the US, by buying them from India and other countries who are able to offer the same drug at as much as 50% lower cost. How does it happen that the same drug offered by our US pharmacies are the highest in the world, where in most cases, the drug is brought to market by an American drug company? This is a shameful situation and needs to be evaluated. This practice, if brought to the attention of government, could increase the transparency sought in a much more meaningful way.