How Much Could Medicare Save in Drug Costs?

Oh, oh, call on me! Call on me!!!

In her first question at her first budget committee hearing on Tuesday, Rep. Suzanne Bonamici (D-Ore.) asked the Medicare actuary how much the federal government could save if Medicare could use its market clout to negotiate lower drug prices, such as the Department of Veterans Affairs does. [via Julian Pecquet]

The answer ($510 per beneficiary per year) is in one of my recent papers with Steve Pizer and Roger Feldman.

[Cross-posted at The Incidental Economist]

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Austin Frakt

Austin Frakt is a health economist and an assistant professor at Boston University's School of Medicine and School of Public Health. He blogs at The Incidental Economist.