In a November 20, 2020, CMS press release, a drug payment model through the Center for Medicare and Medicaid Innovation will lower Medicare Part B payments on certain drugs. With this announcement Medicare Part B payments will lower the payments for some drugs to the lowest price for similar countries, according to CMS. This will save American taxpayers and beneficiaries more than $85 billion over seven years, according to the press release. The Most Favored Nation (MFN) Model will protect current beneficiary access to Medicare Part B drugs, make them more affordable, and address the disparity of drug costs between the U.S. and other countries.
 
For more information on this drug payment model, visit: https://go.cms.gov/373fs74.