"Study after study shows that that will save no money," Rep. Kevin Brady, R-Texas, said during a panel on health care at the Republican National Convention on Thursday.

Brady is the chairman of the House Ways and Means Committee, a powerful panel that oversees tax and revenue legislation and would likely play a role in any major re-write of Medicare policies.

Republicans, as a rule, have opposed the idea of allowing the government to negotiate with drugmakers over prices ever since Medicare Part D, the prescription drug benefit, was enacted in 2003. Written into the law was a prohibition on the federal government negotiating directly. It allowed private Medicare Advantage plans to negotiate drug prices, although with significant restrictions.

Prominent Democrats, including President Obama and Hillary Clinton, have supported the idea of direct negotiation for years. And yet, despite including a number of policies aimed at achieving savings in Medicare, the Affordable Care Act did not include any negotiation provision.

While plenty of experts support the concept of direct negotiation, many have cautioned that nobody should expect the savings achieved through such a system to be a game-changer.

But one study last year suggested the government could save $15 billion a year, however, by implementing the change. The Wall Street Journal also reported that Medicare pays an average of 80 percent more for brand-name drugs than Medicaid and 73 percent more than the Veterans Administration. Both of the other programs are able to negotiate prices.