Re: Drug Company Pricing Should there be a Law?
I worked in the pharm. industry for over 15 years. My belief is that reform is needed not just for pharmaceuticals, but for the medical profession in general.<br /><br />Lets face it, the general free market system just doesn't apply when it comes to health care. The vast majority of people don't (and have limited ways to) compare value (price vs. benefit) when it comes to health care. <br /><br />When was the last time you asked what a needed procedure or med was going to cost and then compared the costs of different potential providers (or alternative meds to the prescribed one)? And even if you tried to do so, how would the average consumer get an objective evaluation of the relative quality of care across different providers? Or the relative merits of one drug vs. another so you could make a rational cost/ benefit analysis? <br /><br />I believe strongly in the free market system, just wish we could figure out a way to make it work effectively in the health care field given our culture and the current environment.<br /><br />The cost of research & development is tremendous. Look at where we are with respect to advances in pharmaceuticals and the improvements they have brought about in terms of quality of life (or even saving lives). Remember back when having an ulcer meant major surgery? Now most ulcers are cured using a relatively short term medicinal regimen. <br /><br />I believe that any solution that significantly reduces the incentive for pharmaceutical R&D could be far more detrimental in the long run than the financial relief to consumers in the short term. <br /><br />Agree with the poster about the money being spent on advertising and marketing. If the ads were truely educational and objective, great, perhaps that could be a part of the solution to consumer education regarding cost/ benefit analysis. As it is, they're pure marketing spin(how does showing a hot air balloon flying over fields of flowers educate me about the relevent benefits of a particular allergy med?). This is one area where I could see regulation leading to a clear benefit for consumers. <br /><br />Couple of other points: <br /><br />There is a real difference in the way pharmaceuticals are treated vs. other health care by the insurance industry. Meds are often an add on, perhaps starting to get more attention, but with nowhere near the general coverage provided for medical procedures in most health care plans. I suspect that's one of the main reasons we're hearing more noise about meds than other medical services right now. I suspect that evening the playing field between the way meds and other health care procedures are treated by the insurance industry might have a very positive effect for the consumer in general. <br /><br />I had a hernia repair a couple of years ago. Fortunately I had insurance, but when I looked at the bill and compared what the total cost would have been for me vs. what the insurance company actually paid I was shocked. Basically, the insurance company negotiated the charges down by a hugh amount that I, as an individual, wouldn't have been able to. In a sense you can think or it as individuals without insurance subsidizing the treatment of patients with insurance. After all, the hostipal has to make a profit, and if they weren't able to charge individuals w/o insurance so much they wouldnn't be able to offer insurers the tremendous discounts that they do.<br /><br />Lastly, litigation. Yes, it's urgent that we find a solution to the skyrocketing costs of medical liability insurance and a way to eliminate frivolous medical lawsuits. But we also need to be careful that we don't limit patient rights in cases of true negligence! I've heard of too many cases where incompetent medical personnel have moved from job to job, causing more & more damage as they go, because of a trend in the industry to bury/ hide instances of negligence and malefeasence. Or take the example of the moron who left his patient cut open on the operating table for something like an hour or two while he ran out to mail a letter (I know I don't have the details right, but it's close enough to give you the gist of what happened). I'm just saying the solution has to be able to differentiate between those cases that are black or white vs. those that are grey and handle them accordingly. <br /><br />Ah well, one persons thoughts, flame away if you'd like. Already spent too much time typing this vs. redoing the teak swim platform on my boat. (I've got an older boat, but to me well maintained teak carries a touch of quality/ class that is hard to match regardles of the cost or newness of a boat).
