WASHINGTON, DC (June 13, 2017): Today, the Council for Affordable Health Coverage (CAHC) – a coalition of employers, insurers, brokers, agents, patient groups, and physician organizations – responded to the Senate HELP Committee’s hearing on prescription drug prices, entitled “The Cost of Prescription Drugs: How the Drug Delivery System Affects What Patients Pay.”
Earlier this year, CAHC unveiled its “Prescriptions for Affordability” initiative, outlining market-driven solutions to address rising drug costs formulated in cooperation with consumer groups, drug manufacturers, pharmacy benefit managers, and other diverse stakeholders. CAHC President Joel White released the following statement:
“We thank Chairman Alexander, Ranking Member Murray, and the members of the Senate HELP Committee for holding today’s hearing and lending their voices to this important discussion,” said CAHC President Joel White. “We need less bickering and more answers. That starts with bringing all factions of the healthcare industry together to identify a consensus-based approach to reducing drug costs, which is exactly what we have done through CAHC’s Prescriptions for Affordability initiative.”
White continued, “Our policies will infuse competition, value, and innovation into the prescription drug sphere – reforming outdated laws, improving FDA efficiency, and empowering consumers with better information to understand their choices. According to our projections, these solutions could save the healthcare system $71 billion a year once fully implemented. That is real money that translates to real relief for consumers who need it most. We are hopeful that Senators Alexander, Murray, and members of the HELP Committee work to enact these commonsense solutions into law.”
CAHC’s proposed reforms specifically focus on
- Increasing Competition: Bring more generics and brands to the market to drive down costs and increase choice.
- Rewarding Value: reform outdated laws that prevent rewards for better outcomes and lower costs
- Improving Data Infrastructure and Use: Create better infrastructure and streamline processes needed to make value-based payment arrangements more fruitful while speeding higher value treatments to market.
- Preserving What Works: Reject policies that undermine functioning markets, hamper innovation, or jeopardize safety or access.
About the Council for Affordable Health Coverage
The Council for Affordable Health Coverage (CAHC) is a broad-based alliance with a primary focus: bringing down the cost of health care for all Americans. CAHC promotes policies that lower health costs through increased competition, informed consumers and more choices to help promote access to affordable coverage.