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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

Pharmalot: Senate Republicans Urge Obama to Withdraw Medicare Part B Experiment

STAT PharmalotBoston, MA, May 2, 2016 ― Pharmalot reporter-blogger Ed Silverman reports on STAT News that one month after the Obama administration unveiled an experiment to revamp the Medicare Part B program, more than a dozen Republican Senators are urging that it be withdrawn.

At the same time, House Republicans and Democrats are circulating letters among themselves that express varying degrees of concern with the program.

In a letter sent on Friday to the U.S. Centers for Medicare and Medicaid Services, the Senators charged that the program would “severely disrupt care for vulnerable beneficiaries with cancer” and other serious medical conditions.

The Senators also complained that CMS failed to undertake a fully transparent process to assemble its program.

At issue is an attempt by the administration to encourage greater use of lower-cost, but equally effective treatments.  The Part B program covers injectable and infused medications for the elderly.  The government also maintains its plan will be budget-neutral, or will not cost additional money.

Under the Part B program, doctors, and hospitals buy a medicine, and the government reimburses the average sales price plus 6 percent.

But the experiment, which would run five years starting this fall, would pay physicians the average price, plus another 2.5 percent and a flat fee of $16.80, not including reductions required by sequestration, or automatic spending cuts.

The program would also pursue ways to pay for medicines based on different definitions of value.

For Silverman’s full STAT story, click here.

Follow Silverman’s Pharmalot on Twitter @pharmalot.

Follow STAT News — which reports from the frontiers of health and medicine — on Twitter @statnews.