Race to the Bottom: Where's the Cavalry?
Tradeoffs
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Reforming Drug Pricing: The Impact of the Inflation Reduction Act
This chapter examines recent legislative changes focused on prescription drug pricing, notably the Inflation Reduction Act of 2022, which empowers Medicare to negotiate prices for high-cost medications. It explores the implications of these reforms for millions of Americans and discusses ongoing frustrations with the pharmaceutical industry's pricing practices. The chapter also considers potential future reforms to ensure equitable access to affordable medications while highlighting challenges like drug shortages and excessive costs.
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