Health care policy assignment 4

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Feb 20, 2024

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Policy Issue Dina Rubin NSG 5130: Health Care Policy December 4, 2023

• The Lower Drug Costs Now Act of 2022 is a bill that aims to lower prescription drug prices in the United States • It has the potential to have a major impact on the healthcare industry • Prescription drugs can have a big financial burden on people and this bill can save people a lot of money Policy Issue (Bendicksen et al., 2021)

• Introduce the bill and reason for selection • Overview of bill: Number, title, sponsor, and brief background area of concern or issue • Identify all direct and/or indirect stakeholders and stakeholder position on the area of concern • Identify the strengths, weaknesses, opportunities, and threats (SWOT) to the bill • Explain how issues in the bill will affect stakeholders at an institutional, local, state, and/or federal level • List two ways the masters prepared nurse leader can act as a change agent, contribute to the policy-making process, and advocate for quality, cost-effective care Purpose Statement

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• The Lower Drug Costs Now Act of 2022, known as H.R. 3, also known as the Elijah Cummings Lower Drug Costs Now Act • Introduced by Representative Elijah Cummings of Maryland in January 2021 • Sponsored by Representative Frank Pallone and 64 cosponsors • The bill would allow: • Medicare to negotiate drug prices directly with pharmaceutical companies • Cap out-of-pocket drug costs for Medicare beneficiaries • Require drug companies to pay rebates to Medicare if they raise prices faster than inflation Overview of Bill (Major & Polite, 2020)

• Pharmaceutical companies are opposed to the bill because they could lose money by lowering the cost of some drugs • Medicare beneficiaries, hospitals, patients and taxpayers are in favor of the bill because it would save them a lot of money • Health insurance companies are divided on the bill because they will have to negotiate drug prices Stakeholders and Stakeholders Position (Rajkumar, 2020)

• Strengths : • Lower drug prices for Medicare beneficiaries and save money for taxpayers • Cap out-of-pocket drug costs for Medicare beneficiaries • Weaknesses : • Opposed by pharmaceutical companies, with resources to lobby against it • Not guaranteed lower drug prices, as it is unclear how much Medicare can negotiate prices down • Opportunities : • Used as a model for other legislation to lower drug prices • Help to build momentum for other efforts to reform the healthcare system • Used to raise awareness of the issue of high drug prices • Threats : • Challenged in court by pharmaceutical companies • Can be vetoed by the President Strengths, Weaknesses, Opportunities, and Threats (SWOT) (Hwang et al., 2022)

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• Institutional : • Could reduce healthcare costs for hospitals and other healthcare providers • Local: • Could make prescription drugs more affordable for patients and families • State: • Could free up state resources for other programs • Federal: • Could reduce the federal deficit Affect on Stakeholders on Different Levels (Rajkumar, 2020)

• Educating patients about the bill and its potential impact by providing research and evidence • Advocating and working with policymakers to develop and implement the bill Two Ways the Masters Prepared Nurse Can Act as a Change Agent (Dusetzina & Mello, 2021)

• The Lower Drug Costs Now Act of 2022 aims to decrease prescription drug prices • This bill has the potential to save Americans billions of dollars on prescription drugs • Many stakeholders are in favor of the bill, however pharmaceutical companies are opposed to it • Master’s prepared nurses have the opportunity to educate people and advocate for the bill to be passed Conclusion

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• Bendicksen, L., Rome, B. N., Avorn, J., & Kesselheim, A. S. (2021). Pursuing value‐based prices for drugs: A comprehensive comparison of state prescription drug–pricing boards. The Milbank Quarterly . https://doi.org/10.1111/1468-0009.12533 • Dusetzina, S. B., & Mello, M. M. (2021). Drug pricing reform in 2021—Going big or going bipartisan? JAMA Health Forum, 2 (7), e212372. https://doi.org/10.1001/jamahealthforum.2021.2372 • Hwang, T. J., Kesselheim, A. S., & Rome, B. N. (2022). New reforms to prescription drug pricing in the US. JAMA, 328 (11). https://doi.org/10.1001/jama.2022.15268 • Major, A., & Polite, B. N. (2020). Bending versus transforming the drug cost curve. The Cancer Journal , 26 (4), 304–310. https://doi.org/10.1097/ppo.0000000000000458 • Rajkumar, S. V. (2020). The high cost of prescription drugs: Causes and solutions. Blood Cancer Journal, 10 (6). https://doi.org/10.1038/s41408-020-0338-x References

Health care policy assignment 4

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