Title: Requires Increased Transparency in Prescription Drug Costs
Vote to pass a bill that requires increased transparency in prescription drug costs in the state of New Mexico.
Requires each pharmacy services administrative organization to submit data to a superintendent that includes the following (Sec. 4):
Negotiated reimbursement rate;
25 prescription drug products with the highest year-to-year percentage change in reimbursement and an additional twenty-five based on its dollar amount;
The schedule of fees charged to pharmacies for services.
Requires the superintendent to submit the legislative finance committee and the legislative health and human services committee a detailed report containing: (Sec. 7).
Market trends for prescription drug products across the state;
Impact of prescription drug product prices;
Geographic and demographic populations in the state most affected by high prescription drug costs; and
Any further recommendations the superintendent has for action or legislation.
Requires the superintendent to hold an annual public meeting focused on discussing the details of their aforementioned report (Sec. 7).
Authorizes the superintendent to audit the data they have collected from a manufacturer and requires the entity that submitted it to pay all costs associated with it (Sec. 8).
Title: Requires Increased Transparency in Prescription Drug Costs
Title: Requires Increased Transparency in Prescription Drug Costs