East Idaho Times

U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Chair Ron Wyden (D-Oregon) have announced their commitment to bipartisan health care legislation aimed at preventing and mitigating shortages of critical generic drugs used by patients and providers in the United States. The senators have released a white paper outlining concerns raised by experts during a Finance Committee hearing and exploring potential solutions through modifications to the Medicare and Medicaid programs.

Crapo emphasizes the urgency of addressing the issue, stating that the recent surge in prescription drug shortages is driving up costs and limiting Americans' access to life-saving medications. He believes that the Finance Committee can leverage its track record of bipartisan policymaking to provide better and more cost-effective healthcare to Idahoans and Americans across the country.

Wyden echoes this sentiment, expressing concern for cancer patients and individuals with chronic conditions who are struggling to obtain affordable generic medications. He emphasizes the need to address the generic drug shortage crisis promptly and asserts his firm commitment, along with Ranking Member Crapo, to utilize the power of Medicaid and Medicare to tackle the issue head-on.

The white paper released by Crapo and Wyden outlines several areas of legislative development that the Committee will be exploring this year. These include Medicare Part A and B payment reforms to stabilize the supply of generic sterile injectable (GSIs) medicines, new incentives for providers and prescription drug supply chain stakeholders to engage in shortage prevention and mitigation activities, and potential reforms to the Medicaid Drug Rebate Program targeting generic medicines in shortage.

The senators are also considering reforms or pilot programs in Medicare Part D to incentivize pharmacies to purchase generic medicines from drug manufacturers that invest in shortage mitigation, quality, and drug supply chain resilience. By increasing transparency and encouraging collaboration within the supply chain, they hope to improve access to affordable generic drugs for all Americans.

The white paper serves as a starting point for discussions and future legislative proposals. Crapo and Wyden are committed to working together on this bipartisan effort to ensure that patients and providers have access to the medications they need without facing shortages or inflated costs. The Finance Committee's focus on preventative measures and the utilization of Medicaid and Medicare will play a crucial role in resolving the generic drug shortage crisis and improving healthcare outcomes for all Americans.