Washington, D.C. – On Wednesday, November 13, The Congressional Hispanic Leadership Institute (CHLI) held its Congressional Hill Briefing: How Do We Address Pricing, Spending, & the Affordability of Medicines?, to lead a discussion on the current impact and future policies regarding pharmaceutical medicines. The briefing was hosted at the Capitol Hill Visitor Center in Washington, D.C.
The panel discussion, aimed at addressing strategies and needs for pricing, spending, and the affordability of medicines in the pharmaceutical industry, was moderated by Molly Hooper, Correspondent with CBS News. The guest speakers on the panel included Robert Popovian, Vice President of U.S. Relations at Pfizer, and Wayne Winegarden, Senior Fellow in Business and Economics at the Pacific Research Institute. The group discussed pressing issues and concerns regarding economic diversity, transparency in the allocation of resources in various communities, focusing on where the intent meets impact in today’s healthcare system.
Robert Popovian provided pharmacist perspectives, explained the process of attaining medicine in the United States versus Canada, and highlighted two current policy legislation proposals pertaining to the pharmaceutical industry and costs of medicines.
“It is very important to immediately help reduce patients’ out of pocket costs. We believe that insurers and PBMs ought to pass the savings negotiated on the patients’ behalf to them at the pharmacy counter,” explained Robert.
Wayne Winegarden addressed the viewpoints of patients by explaining the role that insurance companies play in the process of attaining affordable medicine.
“The current complex and opaque pricing structure is a large part of the problem. Congressional reforms that ensure patients benefit when price discounts are offered, particularly by encouraging a simpler net-pricing model, will go a long way toward improving the affordability of medicines,” shared Wayne.
CHLI would like to thank this briefing’s sponsor: Niesha Foster with Pfizer.
Special thank you to Roy Cosme at ARCOS, and all guest speakers and attendees.