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Part 1 of 3: Understanding the IRA and Medicare Fair Pricing—A [...]
As a practicing pharmacist and business person, you wear at least two hats: one focused on patient care, the other on the survival and success of your pharmacy. The Inflation Reduction Act (IRA), signed into law in 2022, brings changes that could impact both fronts—dramatically. The centerpiece of the IRA's pharmacy-related provisions is the Medicare Drug Price Negotiation Program (MDPNP), also known as the Medicare Fair Pricing (MFP) initiative.