Biden Administration Proposes Yearly Audit of Drug Prices for Costliest Medicaid Medications

The Biden administration plans to conduct annual audits to verify drug prices charged by manufacturers for the most expensive prescriptions covered by Medicaid.
The Centers for Medicare and Medicaid Services will require up to 10 drug makers to provide proprietary and non-proprietary information to support the prices they charge states.
Drugs that cost Medicaid the most money will be selected for the survey.
The proposal aims to make more information about drug pricing publicly available and put political pressure on drug companies.
Drug makers that refuse to provide information will be referred to the U.S. Health and Human Services’ Office of Inspector General for possible investigation.