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Virginia Bio opposes a cut to Medicare Part B, as such a cut will limit healthcare access for the most vulnerable patients in our population.
Medicare Part B coverage of drugs provides an invaluable route of access for patients facing chronic illness. Part B provides an important pathway for patients to access a narrowly defined, limited number of provider-administered products (e.g., those that are injected or infused under the direction of a physician). Furthermore, the patients served under Part B are often the sickest and, therefore, most vulnerable.
Virginia Bio opposes government intervention in the price structure associated with Medicare Part D benefits.
Proposals to enable the federal government to directly intervene in drug supply and cost negotiations could negatively affect the prices paid for prescription drugs, distort the competitive dynamic of the program and result in a range of unintended consequences, including a significant increase in beneficiary premiums, a negative impact on innovation, and cost-shifting to other consumers.