Medicare Outpatient Prescription Drug Coverage Act of 2001

Medicare Outpatient Prescription Drug Coverage Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to: (1) provide for coverage of certain outpatient prescription drugs and biologicals; (2) outline payment rules; (3) establish an enforcement mechanism governing participating pharmacies dispensing covered outpatient prescription drugs and biologicals, providing for civil money penalties in appropriate cases; (4) prohibit payment from being made under Medicare part B (Supplementary Medical Insurance) for any expense incurred for a covered outpatient drug or biological dispensed in excess of a certain quantity, generally a 30-day supply; and (5) direct the Director of the Congressional Office of Technology Assessment (sic) to provide for appointment of a Prescription Drug Payment Review Commission.