Chiquita Brooks-LaSure
Appearances
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
One, because the number of drugs that people, particularly seniors and people with disabilities, are taking really has increased, I would say, certainly over the last 10 years. So people are more dependent on that. And part of that is because we have
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Countries get certain discounts, and a big part of that is also access, right? Like, what does it mean? And rightfully so. I mean, one of the biggest things we heard from companies is, you know, if I'm giving you a discount, I want to make sure people actually can get my drug. Yeah.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
That's just one example of one of the important factors in when you're negotiating of making sure you've thought through just all of the dynamics and in order to reach your goal, which is deliver lower costs.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
incredible drugs that are doing incredible things, but we have gotten to the place in this country where so many people are really choosing between affording their drugs, putting food on the table, and paying for their housing, and heard so many heartbreaking stories about that.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Well, you know, and House Republicans have put out a bill that has a lot of health care in it. And there is nothing on most favored nation in that bill. And I think if they were serious about drug pricing and changing prescription drugs, I mean, they're putting it looks like. about a trillion dollars of cuts to Medicaid and the Affordable Care Act coverage.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And if they wanted, as I said, to tackle prescription drugs, that's a perfect opportunity as you're passing health care legislation to put some proposals to the test.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And that's one of the reasons why it was so important to us to tackle prescription drug prices for the Medicare population and It was something a priority for President Biden.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Well, I would say, you know, exactly what you said, that there are... There is a lot that is resonating because it's true that there are many things that we all can do to take control of our own health and things that we want, not, as you said, I think the processed food is one that we as a country are really grappling with and it is having significant health impacts
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Food is medicine, you know, from former First Lady Michelle Obama to certainly the Biden-Harris administration really focused on trying to think more broadly about health. I would say that what concerns me the most is some of the fundamental things that government needs to do
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
In the HHS reorg and eliminating of so many of our federal workers, we are in danger of seeing really serious public health outcomes. occur that that the government needs to be monitoring. And we just got out of a pandemic. Thank goodness. Right. But there are other things coming down the pike. There is an important an important role for our public health agencies to make sure they're tracking.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And we were able to get the Inflation Reduction Act, which used to joke had some climate change provisions in there, but really was a health care law because it it it changed Medicare prescription drug coverage in these fundamental ways.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
I think we talked at the beginning about innovation, and when we think about the NIH grants and so many of the other changes to funding, I am deeply worried about our our scientists, our clinicians, who are doing research across this world, not just the country, but across this world, and what that impact is gonna be for our health overall.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
So I would say, you know, some of the things that are being proposed, no issue with them, very supportive, but we don't wanna do the nice to have or good idea and forget the essential, necessary, and we're seeing just some of the beginnings with the measles.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
But it's, again, when I think of the pipeline, just talking to people in cancer research, what we're seeing in our clinical trials, I am very worried for that aspect of our future.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
some of the ways that we changed it were really about changing the structure and this year is actually the best benefit for people and that is that there is for the first time a two thousand dollar cap on prescription drug costs for the medicare population and this is huge because as we all know prescription drug costs that people are paying out of pocket have really affected people.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Well, thank you for this conversation. I think it's quite timely and I would just say that I think really focusing on the changes that are coming, that Congress is considering, We really need to put it in context. We left the Biden administration having the lowest uninsured rate in our U.S. history.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
We had reached record levels of enrollment and people in strengthening the Medicaid program and then lowering prescription drug costs, which has really changed people's lives and just really hope that we continue to see that progress forward because affordable drugs This is the, among one of the most important healthcare issues facing our nation.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Thank you so much. It's a pleasure.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And there were seniors who still were paying something like $18,000 a year for their prescription drug costs. So this is a sea change. But part of the way that we were able to pay for that was through negotiating prescription drug crisis and in the Medicare program. And it wasn't for all of them. The law really outlined taking the most expensive drugs.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And each year, more prescription drugs are added to the list that CMS can negotiate. And last year, CMS negotiated lower costs for 10 of the costliest drugs to the Medicare population. And that year alone, we estimated that in one year we'll save $1.5 billion for Medicare beneficiaries and then $6 billion overall. So those are just a little bit at a high level of what the Inflation Reduction Act
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
put into law, it still continues. It continues to be the law of the land. Right before I left, we announced the next 15 drugs, and CMS should be negotiating those as we speak. And so we'll see how the new administration, how the current administration moves forward with that, because it is the law of the land. So then yesterday there was an executive order. And I would say a couple of things.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
You know, there are different ways to approach prescriptions, lowering prescription drug costs. Every administration has a right to put forth their own vision of what they think should be done. There really wasn't a lot of detail in the executive order yesterday to really know. It doesn't say where the administration wants to lower costs. It doesn't say the Medicare population.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
It doesn't say Medicaid. It doesn't say the commercial market. So, you know, not a lot of specifics about what the approach might be. There's an indication of potentially doing rulemaking if drug companies don't come to the table voluntarily. You know, we'll see what the industry says in terms of their response to the executive order. But I would say, you know, two things.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
One, again, the law of the land says that Medicare should be negotiating. And we'll see, does the administration move forward with implementing the law? And it will be a process, right, of how they approach it. But this is important to seniors.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And then secondly, you know, well, there isn't enough detail in what was announced yesterday, I say, I think, to really have a perspective on whether or not it's going to be effective or or whether we'll see any changes to prescription drug prices.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Thank you for having me.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
You know, it's such a good question. Why did it take so long? I think a couple of reasons. I would say health care in our country the government interaction has always been very different than in other countries.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Particularly as I talk to other people in other sectors of the world who are in healthcare, they sometimes find our history so puzzling because it's different, but it is uniquely American, right? And after World War II, our reaction to health care, we went very much more private sector than a lot of the rest of the world. So I think prescription drugs came to the Medicare program quite late.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
I mean, it really was 2003 when Medicare started covering prescription drugs. It wasn't even written really into the beginning when Medicare was created. And part of that was because prescription drugs were not a significant part of it. costs in healthcare in the 60s. But it actually took, if you think about it, like a really long time for Medicare to actually cover drugs. And I think that often
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
when we're shifting the status quo in healthcare, we see a great deal of resistance, right? So, I mean, covering people in the Affordable Care Act, there was a lot of resistance to change, even if people generally wanted, believed in healthcare for people. So I think when it comes to prescription drugs, there's been just a lot of, a lot of status quo.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
It's very difficult for people to really know about pricing in the program. And we see this on a bipartisan basis. There's so much discussion about transparency and putting more transparency into how prescription drug prices are operating. It's extremely complicated. And just our arrangements between the sectors
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
are challenging and so i think it's really easy for one part of the industry to blame the other um and say you know it's uh it's the drug companies no it's the pbms no it's the health plans the pharmacist you know there there's so many um parts of of the chain that it is easy to muddy the water and make it hard to to tackle the costs.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And even in trying to get drug negotiation, there was just a lot of pressure and arguments that we're going to stifle innovation and just all of these all of these pressure points. But at the end of the day, what I firmly believe is the private sector is wise. It will figure out how to make money one way or another. It may be different than how it was, but the private sector will adjust.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
It will continue to innovate. But if people can't afford their drugs, it's not going to matter. You know, there are these incredibly lifesaving things that are coming to market. But if people can't afford them, then you know, nobody's gonna actually be able to get them.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Sure. So let me start by saying how much I think prescription drug cost is one of the biggest issues that we are facing in health care today. I said this often. I felt like a CMS administrator. The issue I heard about the most was. was people struggling to afford their drugs. And I think that's for two reasons.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
Well, just to say, It requires a lot of effort to pass legislation, and it requires even more effort to make that legislation come to life. And part of that is because when you're tackling something of this magnitude and this size, you really have to take in what... everyone's point of view and really make sure you have a good grasp of how's the industry gonna react?
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
How are we gonna make this happen? I mean, there's so many steps to figuring out how to make sure your great idea actually translates into when someone shows up at the pharmacy, they actually get the drug. And so the process of hammering out all those things is passing legislation, making the compromises that need to happen to get it through.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And certainly in implementation, hearing, there are always things that no matter how smart you are, how knowledgeable you are, that you have to hear perspectives. And during my time, I met with so many executives. And of course, not just me, just the team spent so much time hearing with all sorts of people across the chain to really figure out how do we make this happen?
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
And again, like things pop up where you realize, oh, I didn't know this about the supply chain because nobody ever did this before in the Medicare program. And I think that there is a frustration on a bipartisan basis that other countries seem to get way lower prices than we do on prescription drugs. They also have different systems.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
I was talking to a group of people from another country who are all health executives, and I said, do you know what PBMs are? And they did not know what PBMs are, right? Like we do things a little differently here. And so that's not to say that we shouldn't care what other what other countries are getting.
The MeidasTouch Podcast
Meidas Health, Episode 6: Biden’s Medicare Reformer on Why Trump’s Health Plan Is Smoke and Mirrors
It's just to say that there is a lot of work that needs to be done to figure out how we can deliver lower prices to our consumers. the people in our country. And it may be possible to just take prices from others, but it may not. We have a certain size population. Other countries have different populations. There's so many things that go along with why