Rhode Island Favored Nations

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Multi-State
Control #:
US-OG-794
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Word; 
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Description

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Rhode Island Favored Nations is a healthcare policy initiative implemented by the state of Rhode Island. This program aims to control and reduce the costs of pharmaceutical drugs by adopting a pricing model that reflects the lowest price paid by any other nation for specific medications. By leveraging the collective bargaining power of multiple countries, Rhode Island Favored Nations intends to make prescription drugs more affordable and accessible to its residents. This initiative involves negotiating with pharmaceutical manufacturers to establish drug prices based on the lowest price paid in other nations, typically in Europe or Canada. By linking their own drug prices to these international benchmarks, Rhode Island can potentially secure lower prices and pass on the savings to the patients and taxpayers within the state. The Rhode Island Favored Nations program focuses on various types of medications, including but not limited to, prescription drugs for chronic diseases, life-threatening illnesses, and common ailments. By targeting a wide range of medications, the initiative hopes to address the cost burden faced by patients across different healthcare needs. One key aspect of Rhode Island Favored Nations is the effort to ensure that patients have access to high-quality medications at affordable prices. This includes not compromising on the safety, efficacy, and quality of drugs imported from other countries. The program aims to strike a balance between cost reduction and maintaining comprehensive healthcare standards. It is important to note that Rhode Island Favored Nations may include multiple types or variations, depending on the drugs covered and the negotiation strategies. These variations could be specific to certain therapeutic classes, such as drugs for cardiovascular diseases, diabetes, or mental health, or they could be based on different models of international pricing reference. By adopting the Rhode Island Favored Nations initiative, policymakers hope to alleviate the financial burden faced by patients, promote healthcare affordability, and create a more efficient healthcare system. The program acknowledges the need for fair drug pricing and aims to establish a sustainable model that benefits both patients and the state as a whole.

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FAQ

Under an MFN contract clause, providers only promise to offer the lowest price offered to anyone else so that at least two purchasers will reap the lowest rate.

The MFN rule requires that favourable treatment granted to one coun- try be immediately and unconditionally granted to all other countries. Trade restrictions, too, must also be applied equally to all.

When used in the health care industry, an MFN clause is a contractual agreement that guarantees a health insurer the same best price as their market competitors.

The most-favored-nation clause is a stipulation that requires a country to provide concessions, privileges, or immunities that are to be granted to one nation in a trade agreement or to be granted to all other countries that are members of the World Trade Organization (WTO).

Most Favored Nation (MFN) clause in investing is an important provision included in the investor agreements like SAFEs and convertible notes. MFN clause ensures that the investor receives the same terms as the best deal offered to any other investor in the future.

When used in the health care industry, an MFN clause is a contractual agreement that guarantees a health insurer the same best price as their market competitors.

Most favored nation refers to a status conferred by a clause in which a country promises that it will treat another country as well as it treats any other country that receives preferential treatment. Most favored nation clauses are frequently included in bilateral investment treaties.

A most favoured nation clause (also called a most favoured customer clause or most favoured licensee clause) is a contract provision in which a seller (or licensor) agrees to give the buyer (or licensee) the best terms it makes available to any other buyer (or licensee).

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by JF Doherty Jr · Cited by 3 — ... a showing of: 1) concerted activity which 2) unreasonably restrains trade.” 50. Delta Dental was the largest dental insurer in Rhode Island and fees from. The proposed Most Favored Nation (MFN) Model would have tested an innovative way to lower prescription drug costs by paying no more for high-cost Medicare ...... a showing of: 1) concerted activity which 2) unreasonably restrains trade."50. Delta Dental was the largest dental insurer in Rhode Island and fees from. Banned most favored nations in 2006. Monitoring/Regulating. Md. HEALTH ... 11 Office of the Health Insurance Commissioner of Rhode Island (2013). 2013 health ... Jan 29, 1996 — ... a most Favored Nations (MFN) clause in the RxCare network provider agreements. ... Blue Cross and Blue Shield of Rhode Island, 883 F.2d 1101 (1st ... by A Celnicker · 1991 · Cited by 32 — (more complete insurance and possibly price discounts and/or ... Shield of Rhode Island, essentially identical to the most favored na-. The time period for filing a charge with the U.S. Equal Employment Opportunity Commission (EEOC) is shorter. The Commission encourages persons to contact the ... Jan 6, 2011 — Its commercial health insurance policies cover more than ... Delta Dental of Rhode Island, the defendant was the largest dental insurer in Rhode ... state in the nation to use voting machines in every voting district in the state. ... The first WaterFire lighting is made possible by a complete redesign of ... by AJ Dennis · 1995 · Cited by 13 — When the dust settled in both Rhode Island and Ari- zona after the dominant insurer in each state instituted an MFN contract obligation, competing health and ...

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Rhode Island Favored Nations