Medicare Overseers Waste $251 Million By Using Outdated Drug Pricing Estimates

Ignoring previous cost-cutting recommendations from its own watchdogs, the Centers for Medicare and Medicaid Services (CMS) wasted nearly $251 million in taxpayer dollars on infusion drugs in just 18 months by using outdated drug pricing estimates, which drove up the cost of prescription injectable drugs for an aging baby boomer population.

In addition, roughly $50 million of the overpayments could have reduced coinsurance costs for Medicare and Medicaid beneficiaries using infusion drugs to treat diseases like cancer, diabetes, congestive heart failure and rheumatoid arthritis, according to a new report.

Watchdog groups say that the report released by the Department of Health and Human Services Office of Inspector General highlights a troubling culture of federal indifference at the taxpayers’ expense.

“The Obama administration’s Medicare overseers have demonstrated reckless disregard for taxpayer dollars. In previous administrations this kind of revelation would result in firings,” Rick Manning, president of Americans for Limited Government, told The Washington Times.