The Medicaid VBPs for Patients Act aims to codify and facilitate value-based purchasing (VBP) arrangements for prescription drugs within the Medicaid and Medicare programs. It amends the Social Security Act to allow for multiple best price points for a single drug under a VBP arrangement, provided the manufacturer offers it to all States. This promotes flexible pricing structures linking drug payments to patient outcomes. The legislation reforms drug pricing calculations by modifying the definition of Average Manufacturer Price (AMP) under Medicaid to include refunds or payment reductions tied to patient outcomes. It also excludes similar VBP-related remuneration from the calculation of Average Sales Price (ASP) under Medicare, ensuring consistent reporting. These adjustments aim to accurately reflect the true cost of drugs under performance-based contracts. To address implementation, the bill creates an explicit exception under the Antikickback Statute for VBP payments from manufacturers to States when patient outcomes are not met. Additionally, the Department of Health and Human Services must issue guidance to State Medicaid agencies on implementing VBPs for inpatient drugs, including multi-state agreements. A Government Accountability Office study is also mandated to assess the impact of these arrangements on patient access, outcomes, and healthcare costs.