One of the drivers of increasing healthcare expenses is the rising cost of pharmaceutical drugs. The federal government is one of the largest pharmaceutical purchasers and should change the way it negotiates for drug procurement.
* In 2015, the US government paid roughly 43 percent of all retail prescription drug costs--29 percent through Medicare, 10 percent through Medicaid, and the rest through the
"These prices continue to rise, and the taxpayers are footing the bill. But, by creating a single procurement process for Medicare, Medicaid,
Currently, Medicare is prohibited from negotiating lower drug prices, and states must negotiate singly or in cooperatives for Medicaid pricing. Hoyos would work to create a system in which the buying power of all government purchases would be used to negotiate the lowest price for drug procurement.
Added Hoyos, "The pharmaceutical industry is a