Trump Administration Announces Regulatory Breakthrough for Prescription Drug Information Access

The Trump Administration has announced a significant reform that will give doctors and patients real-time access to prescription drug information, starting October 1. This breakthrough will allow millions of Americans to compare drug prices, view out-of-pocket costs, and access prior authorization requirements, effectively identifying the most appropriate and cost-effective treatments while preventing health insurers from blocking physician-approved care. The reform complements policies advanced by the Centers for Medicare & Medicaid Services (CMS) and expands interoperability for patients, health care providers, and payers, easing administrative burdens.

Key Takeaways:

• The Trump Administration's regulatory breakthrough will provide real-time access to prescription drug information for doctors and patients starting October 1.
• Millions of Americans will be able to compare drug prices, view out-of-pocket costs, and access prior authorization requirements, helping identify the most cost-effective treatments.
• The reform will prevent health insurers from blocking physician-approved care, ensuring timely treatment for patients.
• The HHS' final rule ensures electronic exchange of health information, allowing health care providers to submit prior authorizations electronically and select drugs consistent with a patient's insurance coverage.
• This reform was finalized through the HHS Assistant Secretary for Technology Policy/Office of the National Coordinator for Health Information Technology (ASTP/ONC) and complements CMS policies in recent years.
• Secretary Robert F. Kennedy, CMS Administrator Dr. Mehmet Oz, and Director of Medicare Chris Klomp led the discussion on reform, with major health insurers pledging key reforms to cut red tape and enhance transparency for patients and providers.
• Health insurers covering nearly eight in 10 Americans pledged six key reforms, including cutting red tape, accelerating care decisions, and enhancing transparency for patients and providers participating in Medicare Advantage, Medicaid Managed Care, Medicare Part D, Health Insurance Marketplace, and commercial plans.
• ASTP/ONC's HTI-4 final rule demonstrates advancement in collaboration with CMS and represents another step in ease of burdens on providers and speed patients' access to care.
• ASTP/ONC's work serves as a foundation to support CMS payment policies, advancing interoperability nationwide and delivering on a vision where data flows seamlessly between providers and payers.

Statistics:

• Millions of Americans will have access to compare drug prices, view out-of-pocket costs, and access prior authorization requirements starting October 1.
• Nearly 8 in 10 Americans will have access to new health insurance reforms, cutting red tape and enhancing transparency for patients and providers.
• Millions of hours of clinician time and billions of dollars in labor cost may be saved through workflow automation and timely, transparent decision-making.

Sources:

• U.S. Department of Health and Human Services [Category: Pharmaceuticals, Healthcare, Managed Health Care, Regulatory and Legal]
• Contify.com, Copyright 2017