Common sense in the drug pricing debate

High drug prices are largely blamed on the pharmaceutical companies, but before we can have a common sense debate we need to look at overall health care costs.  In 2013 the U.S. spent 17.1% of its total GDP on healthcare, 50% more than the second highest spending country, France (11.6%). In 2014, the U.S. spent $2.6 trillion (a 5.0% increase from 2013) on personal health care expenditures, in 2015 the U.S. spent $3.2 trillion, which is about 17.8%. Prescription drugs account for only $.10-$.12 of every healthcare dollar spent. Even if all prescription drugs were free our healthcare costs would still be increasing. Continue reading