UPCOMING WEBINAR: Prescription Drug Affordability Boards 101
Ensuring prescription drug affordability continues to be a top concern for consumers, caregivers, and policymakers. To address these concerns, state and federal legislators have taken action by enacting a variety of laws that would set limits on certain prescription drug costs. At the state level, this legislation frequently takes the form of Prescription Drug Affordability Boards, also known as PDABs. Currently, seven states have passed PDAB legislation, with several more states proposing PDAB legislation in 2023 and 2024. Unfortunately, for advocates, there is not one approach to PDABs. For example, some PDABs are only empowered to review drug prices, report on pricing trends, and offer policy recommendations to improve consumer affordability. Meanwhile, other PDABs have authority to implement price controls based on the Inflation Reduction Act (IRA) Medicare negotiations, international reference pricing, or upper payment limits. This diverse landscape of PDAB functions has created challenges for consumers to actively engage with these entities and ensure that the patient voice and lived experience are integral to these processes. To empower advocates in engaging with PDABs, Aimed Alliance is thrilled to host an upcoming webinar: Prescription Drug Affordability Boards 101: Everything You Need to Know. This webinar will provide a comprehensive overview of the diverse approaches employed by different state PDABs, shedding light on the mechanisms these boards utilize to tackle the challenge of rising drug costs. By incorporating insights from policy advocates and patient perspectives, attendees will gain valuable insights into the multifaceted strategies employed by PDABs. The discussion will delve into potential problems and uncertainties associated with PDAB implementation, addressing concerns such as the lack of patient representation, reduced innovation, and considerations about the data and methodologies used. With an interactive Q&A session, attendees will have the opportunity to explore the challenges and ambiguities inherent in the functionality of these boards. Attendees can expect to leave with an increased understanding of PDABs, their impact on drug affordability, how advocates can engage PDABs in 2024 and beyond; and key considerations for legislators proposing or considering to propose these bills. Ultimately, this free, one-hour webinar serves as a comprehensive guide to navigating the evolving landscape of prescription drug affordability, empowering advocacy organizations, patients, and providers to better engage these entities.
