CMS implements Inflation Reduction Act payment increase for qualifying biosimilars
Effective Oct. 1 for five years, the Centers for Medicare & Medicaid Services will pay Average Sales Price plus 8%, rather than ASP plus 6%, for biosimilars whose average sales price does not exceed the price of the reference biological product. The payment increase was included in the Inflation Reduction Act of 2022. For new biosimilars that qualify, the five-year period will begin on the first day of the calendar quarter for which ASP payment for that biosimilar begins under Medicare Part B.
Related News Articles
Headline
The Centers for Medicare & Medicaid Services Nov. 5 published a final rule to codify the Medicare Drug Price Negotiation Program beginning in 2029. The…
Headline
The estimated average monthly premium for Medicare Part D stand-alone prescription drug plans is $51 for 2027, a 50% increase from $34 in 2026, for enrollees…
Headline
The Centers for Medicare & Medicaid Services Nov. 4 released its calendar year 2027 final rule for the physician fee schedule. As required by law, CMS will…
Headline
A coalition of healthcare organizations, including the AHA, sent a letter Oct. 27 to the Center for Medicare and Medicaid Innovation recommending changes to…
Headline
The Centers for Medicare & Medicaid Services announced that the submission period opened Oct. 16 for petitions to deny the recertification of five…
Headline
The Centers for Medicare & Medicaid Services announced that it will exercise enforcement discretion for inpatient rehabilitation facility admissions from…