Oklahoma Medicaid Implements Value-Based Drug Purchasing
Under a voluntary initiative set to take effect this month, Oklahoma will introduce value-based drug purchasing for Medicaid, only fully compensating manufacturers of drugs that deliver the promised results.
Under the statewide program, drugmakers will receive a fraction of the agreed-upon price for drugs that fall short. Although participation is voluntary, officials are counting on the potential reputation boost as an incentive for companies to sign up. Products that prove their effectiveness under the program will be placed on the state’s preferred drugs list.
The program is projected to save approximately $2 million in the second year, the department said.