Section 1 Short title
This Act may be cited as the “Drug Price Transparency Act”.
Drug Price Transparency Act
A BILL
To provide for a study and report on the feasibility of basing reimbursement rates for Medicare part B drugs and covered part D drugs on the average prices for such drugs in the member-states of the Organization for Economic Cooperation and Development.
Sec. 2 Study and report on feasibility of basing reimbursement rates for Medicare part B drugs and covered part D drugs on average prices for such drugs in OECD member states
From amounts otherwise made available to the Secretary of Health and Human Services, the Secretary shall use not to exceed $100,000 of such amounts to, not later than 90 days after the date of the enactment of this Act, conduct a study, and submit to Congress a report, on the feasibility of—
basing reimbursement rates under part B of the Medicare program under title XVIII of the Social Security Act for prescription drugs for which coverage is provided under part B of the Medicare program on the average price of such drugs in the member-states of the Organization for Economic Cooperation and Development; and
basing payment rates under prescription drug plans under part D of such title (and under MA–PD plans under part C of such title) for covered part D drugs (as defined in section 1860D–2(e) of such Act (42 U.S.C. 1395w–102(e))) on the average price of such drugs in such member-states.