Joyce Calls for Bipartisan Action to Lower Drug Prices, Increase Transparency

WASHINGTON – Today, Congressman Dave Joyce (OH-14) joined a bipartisan, bicameral group of lawmakers to call for much-needed legislative action to lower the cost of life-saving medications and increase transparency of drug pricing. Participating lawmakers included but were not limited to: Senators Susan Collins (ME), Joe Manchin (WV), and Bill Cassidy (LA), and Reps. Tom Reed (NY-23), Josh Gottheimer (NJ-05), Elissa Slotkin (MI-08), and Steve Watkins (KS-02). 

“The high cost of life-saving goods and services, ranging from prescription drugs to surgeries, is one of the biggest challenges facing communities not just in Ohio, but across the nation,” said Dave. “On top of that, it’s next to impossible for patients to know the real cost of health care services before they receive them.”

To watch Dave’s full remarks, click here.

The average person spends roughly $1,200 on prescription drugs each year, while the cost of life-saving medication for someone battling cancer can add up to $10,000 per month. In 2017 alone, Americans’ total health care expenditures reached a whopping $333 billion, a 40% increase from the $236 billion spent in 2007. According to the Agency for Healthcare Research and Quality, the average health care expenditure per person is over $5,000. 

“No one is standing up here today saying that tackling this issue is going to be easy, but there is a bipartisan path forward for us to make progress on this issue and provide relief to the American people,” said Dave. By working together on the principles outlined today, we can provide patients with the information and tools they need to choose the care that best fits their personal health needs and financial situations.”

During the press conference, the lawmakers announced a set of bipartisan drug pricing principles endorsed by the Problem Solvers Caucus, a group of lawmakers evenly split between Republicans and Democrats who come together weekly to solve some of the most challenging issues facing our country today. The principles include:

 

·     We support access to medications for patients through more transparency, competition, and affordability in the U.S. prescription drug market.

·     We support price transparency standards that give patients, health care providers, and the federal government clear information about drug costs.

·     We believe drug manufacturers should have to disclose, in a way consumers and providers can understand, the price of treatment for advertised drugs and explanation of prices.

·     We believe pharmacy benefit managers should have to disclose, in a way consumers and providers can understand, the discounts they receive from drug manufacturers that impact the cost of medications for patients.

·     We support patent transparency standards that help new drugs come to market as soon as possible.

·     We support competition among drug manufacturers that ensures continued research and development, makes drugs more affordable, and increases access for patients who need them.

·     We believe in enforcement mechanisms that pave the way for new, more affordable drugs if other manufacturers do not comply with transparency standards or engage in anti-competitive behavior.

 

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