On November 10, 2023, the Senate Finance Committee held a Markup on the Better Mental Health Care, Lower-Cost Drugs, and Extenders Act. The package, defined by its bipartisan support, seeks to address key issues pertaining to American health care, such as broadening the mental health care workforce, minimizing prescription drug costs, and extending the use of Medicare and Medicaid. Further, it also aims to bring about significant reforms in Pharmacy Benefit Managers (PBMs) to build upon earlier interventions by the committee in this domain.
The recent report unveiled by McDermott+Consulting details the committee’s initiative to prioritize mental health care, in light of the rising need for these services. The legislation aims to expand services while simultaneously strengthening the existing mental health care workforce.
In a concerted effort to make significant headway in lowering prescription drug costs, the bill also proposes further PBM reforms. This comes as a significant move to build on previous actions by the committee to closely monitor, regulate and make drugs affordable for the American public. The role PBMs play in the pharmaceutical industry has faced increasing scrutiny over time, and these proposed reforms herald a new step in that ongoing conversation.
The Act also focuses on widening the scope of Medicare and Medicaid. This part of the package, often referred to as extenders, aims to make these health services accessible to a broader spectrum of the American populace, thereby enhancing overall health care reach.
As the bill moves through the legislative process, it will be crucial for legal practitioners, healthcare providers, and patients to closely monitor the Committee’s discussions and any upcoming modifications. This Act, with its distinct emphasis on accessible health care and the reduction of prescription drug costs, could have far-reaching implications for the legal landscape of the American healthcare industry.