WASHINGTON, DC (November 2, 2017) — The Association for Accessible Medicines (AAM) and its Biosimilars Council praise the Centers for Medicare & Medicaid Services (CMS) decision to revise its current biosimilars reimbursement policy in Medicare Part B, as part of the Revisions to Payment Policies under the Physician Fee Schedule and Other Revisions to Part B for CY 2018 final rule (CMS-1676-P).
“The decision by CMS to shift biosimilars reimbursement to unique codes will not only increase patient access to more affordable, life-saving medicine, but also lower overall federal prescription drug spending,” says Christine Simmon, Executive Director of the Biosimilars Council and Senior Vice President of Policy & Strategic Alliances at AAM. “Today’s action will directly support the development of a thriving biosimilars market in the U.S.”
Led by the Biosimilars Council, a variety of stakeholders have urged the agency to provide each non-interchangeable biosimilar with a unique billing code and payment rate. A recent report by The Moran Company finds providing separate codes would save the federal government $11.4 billion over the next 10 years.
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