According to @mcuban, many cell and gene therapies are being carved out of payer plans, their prices are not falling, and some companies behind these therapies are getting acquired, underscoring persistent pricing power and consolidation pressure in CGT equities, source: https://twitter.com/mcuban/status/1995215355401171252. He adds that stakeholders are evaluating new payment models and points to a federal initiative, the CMS Cell and Gene Therapy Access Model, as a key framework under consideration, source: https://twitter.com/mcuban/status/1995215355401171252. CMS describes its CGT Access Model as enabling multi-state value-based purchasing and outcomes-based agreements to improve Medicaid access for high-cost cell and gene therapies, indicating payment structures that can tie reimbursement to patient outcomes, source: https://innovation.cms.gov/innovation-models/cgt-access-model. CMS further notes the model can centralize negotiation and administration of outcomes-based agreements on behalf of states, including outcome measures and financial terms such as rebates if outcomes are not achieved, which directly affects reimbursement mechanics and revenue recognition for CGT manufacturers, source: https://innovation.cms.gov/innovation-models/cgt-access-model.