CMS chief Oz says drug prices falling, promises broader Medicare access and AI reforms

During a televised interview, CMS Administrator Mehmet Oz reported that drug prices fell 3.1% in July and are expected to keep dropping thanks to a Most-Favored-Nation pricing framework that forces companies to match overseas rates. He noted that 17 pharmaceutical firms representing most of the market have signed on, leading to dramatic savings such as GLP-1 weight-loss drugs now costing $50 per month for eligible Medicare patients, down from over $1,000.

Oz also cited a $42 billion reduction in Medicare fraud last year and outlined plans to use artificial-intelligence tools to give more Americans access to their medical records. He defended the administration’s vaccine approach, saying vaccines are safe, the government will pay for them, and parents should retain the right to decide. The discussion touched on the Great American Health Act, which aims to codify the pricing rule, and on broader efforts to sustain Medicare’s solvency amid rising debt concerns.