BIO Makes Statement on Medicare Part D Data Release.
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Press Release Summary:
BIO President and CEO Jim Greenwood's statement regarding Medicare Part D Data Release voiced concerns over possible misuse of data by third parties and resulting potential threat to healthcare system innovation. Greenwood points out BIO's support for transparency in data sharing in life sciences industry but cited such flaws as data lacking necessary context for disclosures as well as how they should be read and interpreted.
Original Press Release:
BIO Statement on Medicare Part D Data Release
WASHINGTON--Today, the Biotechnology Industry Organization (BIO) released the following statement on the Medicare Part D Data Release. This statement can be attributed to Jim Greenwood, BIO President and CEO.
“We are concerned that some third parties will attempt to misuse the data, potentially threatening needed innovation in our nation’s healthcare system.”
“BIO supports transparency in sharing data in the life sciences industry so that patients and physicians can make treatment decisions based on accurate, timely, and easily accessible information.
“However, the recent release of Medicare Part D Data is particularly disappointing as we feel that the data lack the necessary context for these disclosures – and how they should be read and interpreted. One of the limitations of these data is they do not include the sometimes substantial rebates provided by manufacturers in the Part D program. Moreover, these data are missing critical context as to how Part D medicines may result in better outcomes and lower costs to the Medicare program, including through fewer hospitalizations, surgical interventions and physician office visits.
“We are concerned that some third parties will attempt to misuse the data, potentially threatening needed innovation in our nation’s healthcare system.
“We continue to urge CMS and others to ensure that any time data of this nature are published, that appropriate context is provided in order to avoid misleading conclusions based on such data.”
For more information on BIO and the biotechnology industry organization, please visit www.bio.org.
About BIO
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.
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Contacts
Biotechnology Industry Organization (BIO)
Tracy Cooley, APR, 202-312-9274
Web: www.bio.org
Blog: www.biotech-now.org
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