Establishes three-year Medicaid demonstration project to pay for certain drugs according to value-based system. Under the bill, the Department of Human Services will establish a three-year demonstration project to employ value-based payment systems for a limited number of prescription drugs covered under the program. The department will enter into purchasing or rebate agreements with the manufacturers of at least three different prescription drugs, which will provide that the total reimbursement paid by the State for such drugs will be based in some part on observed outcomes of the drug’s use in patients.