CENTERS FOR MEDICARE & MEDICAID SERVICES ISSUES RULE: GLOBAL BENCHMARK FOR EFFICIENT DRUG PRICING (GLOBE) MODEL

WASHINGTON, Oct. 2 -- Centers for Medicare & Medicaid Services has issued a rule called: Global Benchmark for Efficient Drug Pricing (GLOBE) Model.

The rule was published in the Federal Register on Oct. 2 by Robert F. Kennedy, Secretary, Department of Health and Human Services.

Summary: This final rule implements the Global Benchmark for Efficient Drug Pricing Model (GLOBE Model), a new mandatory Medicare payment model under section 1115A of the Social Security Act. The GLOBE Model will test whether a payment model that uses an alternative method for calculating Medicare Part B drug inflation rebate amounts for certain separately payable Medicare Part B drugs and biological products reduces costs for Original Medicare (OM) beneficiaries a...