Vizient Supports HHS Blueprint Goal to Lower Drug Prices and Reduce Out-of-Pocket Costs

July 16, 2018 |

3 min read

At a time when rising drug costs are putting an increasing strain on the bottom lines of Vizient member hospitals, we are supportive of efforts by the Administration to understand the complexities of the U.S. pharmaceutical market and look for solutions to curb rising drug costs.

IRVING, Texas--(BUSINESS WIRE)-- At a time when rising drug costs are putting an increasing strain on the bottom lines of Vizient member hospitals, we are supportive of efforts by the Administration to understand the complexities of the U.S. pharmaceutical market and look for solutions to curb rising drug costs. Vizient applauds the overall goal of the Department of Health and Human Services’ (HHS) Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs to increase competition, improve negotiation, and lower list prices and out-of-pocket costs for drugs.

In its letter to HHS, Vizient noted that biosimilars represent one of the most important avenues for cost mitigation. The Blueprint states that the “FDA is working to identify areas in which additional information resources or development tools may facilitate the development of high quality biosimilar and interchangeable products.” Vizient strongly agrees that physician and patient confidence in biosimilar and interchangeable products is critical to increasing market acceptance of these products.

We are encouraged by the FDA’s intention to build on the momentum of past education efforts by developing additional resources for health care professionals and patients – and encourage resources specifically dedicated to biosimilar and interchangeable products as the agency seeks to increase awareness of these important new treatments.

Vizient expressed serious concern with the two site-neutral payment policies raised in the Blueprint, and noted that if implemented, they could have a substantial and devastating impact on access to care for the nation’s most vulnerable patients. Although the Medicare inpatient and outpatient payment systems are complex, Vizient strongly believes that decisions regarding where patients should be treated should be made solely by their physician, and based on their clinical judgment alone.

Additionally, Vizient is also a member of the Campaign for Sustainable Rx Pricing (CSRxP), a coalition consisting of physicians, consumers, payers, hospitals, health systems, and patient advocacy groups. Vizient and its members are committed to efforts that will improve the delivery of care and remove unnecessary cost from the U.S. health care market. We are grateful for the opportunity to lend our voice to this important discussion and look forward to continuing to work with HHS as they examine these critical issues.

Vizient is the nation’s largest health care performance improvement company serving a diverse membership that includes academic medical centers, pediatric facilities, community hospitals, integrated health care delivery networks and non-acute health care providers.

About Vizient, Inc.

Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents approximately $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2018, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.