This bill establishes a more standardized and transparent system for managing medications at Veterans Affairs medical facilities. The bill creates a unified national formulary (list of approved drugs) that all VA facilities must follow, with limited exceptions for individual hospitals or regions. It sets up a Pharmacy and Therapeutics Committee to review new medications and make formulary decisions based on clinical evidence and cost-effectiveness, with decisions to be made within 120 days of FDA approval. The bill also requires the VA to create an electronic system for doctors to request non-formulary drugs, with decisions within 96 hours and appeals resolved within a week, and establishes a Veterans Formulary Advisory Committee to gather veteran and clinician input. Additionally, the bill authorizes the VA to negotiate better drug prices with manufacturers in exchange for preferred formulary status and implements a tiered copayment system to encourage veterans to use lower-cost, generic, and formulary drugs. The bill requires annual reporting to Congress on formulary changes and non-formulary appeals, and mandates public communication about significant formulary decisions over a five-year period.
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