The executive vice principal of advocacy and healthcare access at the National MS Society offered a brief overview of the Inflation Reduction Act of 2022 and how it relates to the economic impact faced by patients with MS. [WATCH TIME: 5 minutes]
WATCH TIME: 5 minutes
“The new law will also limit price increases for medications due to the inflationary rebate provisions and, for the first time, the government will be able to negotiate prices for expensive medications.”
Approximately, it has been estimated that there are 1 million adults who are living with multiple sclerosis (MS) in the United States, disrupting daily living and life roles.1 A recent study published in the Journal of Neurology estimated the economic burden of patients with MS in 2019 in the United States using claims from the Medicare Current Beneficiary Survey, Medicare Standard Analytical File, and Optum de-identified Normative Health Information System. The data included direct and indirect costs for 946 patients with MS.
The findings showed that the total economic burden estimated to $85.4 billion (direct medical cost, $63.3 billion; indirect/nonmedical costs, $22.1 billion). The three largest components of the direct costs for patients were retail prescription medication (54%), clinic-administered drugs, medication, and administration (12%); and outpatient care (9%).1 In addition, for indirect and nonmedical costs the average was $18,542 per patient with MS and if the caregivers' costs were included, the average was $22,875 per patient with MS. The results ultimately suggested that the burden of MS in the US had been miscalculated.
In a recent interview with NeurologyLive®, Bari Talente, JD, discussed the economic burden that patients with MS experience and provided insight on the recently passed Inflation Reduction Act of 2022. Talente, executive vice principal, advocacy and healthcare access, National MS Society, told an overview of the law and the different types of economic hardships the MS community faces.