Rhode Island House Bill H7185

Rhode Island 2022 Regular Session

• Introduced: 1/26/22
• Refer: 1/26/22

Caption

Prescription Drug Affordability Board - Group Purchasing Board For Rx We Can Afford

Impact

The implementation of H7185 is anticipated to create a regulatory framework that puts a check on the rising costs of prescription drugs in Rhode Island. It aims to alleviate financial burdens on both the state's healthcare system and residents by potentially setting upper limits on drug prices. By collecting data from drug manufacturers and insurance providers, the board will be positioned to oversee pricing models and ensure they align with affordability for consumers. This may also encourage pharmaceutical companies to be more transparent about their pricing structures and business operations.

Summary

House Bill 7185 establishes a Prescription Drug Affordability Board in Rhode Island, tasked with evaluating and regulating the prices of prescription drugs to address affordability challenges faced by state residents. The board will conduct cost reviews of drugs that have a significant financial impact on healthcare expenditures and patient out-of-pocket costs. The bill emphasizes the board's independence and authority in making decisions concerning the oversight of drug prices and its interaction with stakeholders in the healthcare system.

Contention

Notably, the establishment of the Prescription Drug Affordability Board may stir debate surrounding the balance between regulatory oversight and corporate autonomy. Proponents argue it is a necessary step towards ensuring medication access for all residents, while critics may view it as government overreach into the pharmaceutical market. The stakeholder council, comprising various representatives from related fields, including healthcare and economic sectors, will provide necessary input, yet may signal a complex dynamic of interests that could impact the board’s effectiveness in achieving its affordability goals.