The Inflation Reduction Act (IRA), signed into law in 2022, will have a potentially profound impact on the U.S. health care system and drug development landscape. A sound knowledge of the technical detail of the Act is needed before we can understand what its true influence may be.
Rather than speculating on its potential impact, we have developed an Educational Program, launched today at ISPOR 2023, with the support of PhRMA, to explain the key IRA provisions as they relate to pharmaceutical payment and coverage.
Our aim is to promote a common factual understanding of the IRA’s provisions, equipping learners with the knowledge and information needed to support informed conversation and debate on its potential impacts.
Key learnings from the program are:
- Understand the drug selection and price setting process to be enacted, starting in 2023
- Become familiar with the inflation rebate provisions of the IRA, and how these will apply to Medicare Part B and Part D drugs
- Understand the changes to Medicare Part D through the benefit redesign, as well as the other provisions of the IRA impacting cost sharing, premiums and subsidies.