Biosimilars Forum Welcomes HHS Inspector General Study on Biosimilars in Medicare Part B
Juliana M. Reed, executive director of the Biosimilars Forum, released the following statement after it was announced that the U.S. Health and Human Services (HHS) Office of Inspector General (OIG) will launch a study on the use and spending trends for biosimilars in Medicare Part B:
“We welcome the Inspector General looking into this matter because it is another important step in addressing slow uptake rates for biosimilars in Medicare Part B. This lack of use hinders Americans’ access to lower-cost safe and effective biosimilars, which should be widely available to all who need them.
“HHS officials rightly identify the lack of provider reimbursement incentives as possible obstacles to better biosimilar uptake rates. The Biosimilars Forum has been advocating for Congress to address these misaligned incentives as one way to increase patient access to lower cost medicines.
“More competition is paramount to achieving the full cost-savings potential of biosimilars, which we know could reduce drug costs by $133 billion over the next five years if their use increases. While we look forward to seeing the results of this study, we expect it will be yet another example of why we are so committed to working with Congress and HHS officials to increase access to biosimilars for patients and providers.”
To learn more about the policies the Biosimilars Forum supports, including a provider reimbursement incentive that would increase the add-on payment for a biosimilar from ASP+6% of the biologic product to ASP+8% of the biologic product, visit https://biosimilarsforum.org/advocacy/our-action/.