PIERRE, S.D. – South Dakota could save an estimated $750,000 a year on prescription drug costs through a new federal Medicaid pricing program announced Friday.
Governor Larry Rhoden joined federal health officials at the White House for the unveiling of the GENEROUS Model, a five-year initiative designed to lower Medicaid drug spending by tying some prescription prices to rates paid in other countries.
According to the governor’s office, South Dakota has already identified three medications that could qualify for additional rebates from drug manufacturers under the voluntary program.
State officials say South Dakota will have flexibility in selecting medications that offer the greatest potential savings. Rhoden says the program could help reduce prescription drug costs for both the state’s Medicaid program and taxpayers.
States interested in participating must finalize their agreements by September 30.
