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Medicare Part D is a set of prescription drug plans administered by private insurance companies that is available to all Americans eligible for Medicare (over age 65). Currently, Part D relies exclusively on free market competition to bring down drug prices for its beneficiaries. However, an increasingly common pharmaceutical class known as specialty drugs lack therapeutic substitutes to provide ... read morethis sort of competition. Other price regulation mechanisms are possible, but current US policy gives Part D plans little bargaining power when negotiating specialty drug prices. This project seeks to model the effects of proposed regulatory policy aimed at improving the negotiation of specialty drug prices. Submitted in partial fulfillment of the grant requirement of the Tufts Summer Scholars Program.read less
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