President Joe Biden [Image courtesy of the White House]
President Joe Biden has signed an executive order that asks HHS’ Innovation Center to explore new strategies to reduce prescription drug costs.The Affordable Care Act, passed on March 21, 2010, established HHS’ Innovation Center to explore new ways of paying for Medicare services.
The new executive order gives HHS 90 days to submit proposals to reduce prescription drug costs and expand Medicare beneficiaries’ access to new drug therapies.
The most recent executive order notes Americans pay an average of two to three times more on prescription drugs than those in other wealthy countries.
The executive order text notes that one-quarter of Americans taking prescription drugs struggle to afford them. In addition, almost one-third of American adults taking prescription drugs admit they have skipped doses, cut pills in h…