CMS Wasted $250 Million With Outdated Drug Pricing Estimates

CMS wasted nearly $251 million in taxpayer dollars on infusion drugs in just 18 months by using outdated drug pricing estimates, which drove up the cost of prescription injectable drugs for an aging baby boomer population.

Ignoring previous cost-cutting recommendations from its own watchdogs, CMS wasted nearly $251 million in taxpayer dollars on infusion drugs in just 18 months by using outdated drug pricing estimates, which drove up the cost of prescription injectable drugs for an aging baby boomer population.

In addition, roughly $50 million of the overpayments could have reduced coinsurance costs for Medicare and Medicaid beneficiaries using infusion drugs to treat diseases like cancer, diabetes, congestive heart failure, and rheumatoid arthritis, according to a new report.

Watchdog groups say that the report released by HHS' Office of Inspector General highlights a troubling culture of federal indifference at the taxpayers’ expense.

Read more at Washington Times: http://bit.ly/1DHajth