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Medicare could save $73B by matching drug prices of other countries, study says | Becker’s Hospital Review

By using external reference pricing to match U.S. drug prices to those in Japan, the U.K. or Canada,  Medicare could have saved nearly $73 billion in 2018, according to a new study published in Health Affairs.

Five things to know:

1. For the study, researchers analyzed 79 medicines that Medicare Part D spent the most on that did not have competition from lower-cost generic alternatives. All of the drugs analyzed had been on the market for at least three years.

2. For 79 brand-name prescription drugs, the U.S. price was 3.2 percent to 4.1 percent higher on average than in the other three countries.

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Medicare could save $73B by matching drug prices of other countries, study says.