On the recordNovember 18, 2003
The VA does negotiate low prices because they have the leverage of having a lot of people who use the medicine. That is the same concept we are applying here, that there are large groups of people who can get a better price and get lower costs because they do it together. There is a group rate, just like we do if we go into Denny's with a large party, diners get a group rate and a lower cost. The estimates are that the cost of medicine will go down between 15- 25 percent, and we do not say that there has to be a Medicaid price. The companies can negotiate a low price, as low as they can get, and we give them leverage to do so. I think that is the way to go. And I think that guaranteed benefit is the way to go in this program. Mr. Speaker, in closing, we are about this week to pass historic legislation that has been a long time in coming.
Source
govinfo.gov
