Average Sales Price (ASP) is the weighted average of all non-federal sales to wholesalers and is net of chargebacks, discounts, rebates and other benefits tied to the purchase of the drug product, whether it is paid to the wholesaler or the retailer.
A manufacturer’s ASP must be calculated by the manufacturer every calendar quarter and submitted to the Centers for Medicare & Medicaid Services (CMS) within 30 days of the close of the quarter. Each report must be certified by one of the following: the manufacturer’s CEO; the manufacturer’s chief financial officer (CFO); or an individual who has delegated authority to sign for, and who reports directly to, the manufacturer’s CEO or CFO.
What Is Average Manufacturer Price (AMP)?
What Is Average Wholesaler Price (AWP)?
Why Is a Hospital Price List Different for Each Insurance Company?