KEY TAKEAWAY: Even if all prescription drugs were free to patients our health care costs would still be going up in a steep curve. To reduce health care costs, we need an integrated approach not a universal Medicare system. Continue reading
KEY TAKEAWAY: Pharma companies continually use the excuse of “helping patients” or “prolonging life” to justify high drug prices, but that talking point isn’t relevant anymore in an era of total transparency. Continue reading
KEY TAKEAWAY: Chronic diseases, such as heart disease, cancer, and diabetes, are responsible for 7 of every 10 deaths among Americans each year and account for 75% of the nation’s health spending. These chronic diseases can be largely preventable through close partnership with a healthcare team, or can be detected through appropriate screenings , when treatment works best. So why don’t insurers help their customers by suggesting more preventative care? Continue reading
Americans on average spent $714, or 1.6% of their take-home pay, on out-of-pocket health care costs in 2016, according to a report from JPMorgan. That was up 3.6% from the year before and up 13.5% from 2013. The bank also found that the US spent 18% of gross domestic product on health care, up from 13% in 2000. Continue reading
KEY TAKEAWAY: High drug prices are a problem, but the answer is not cutting DTC advertising from drug companies. Lower drug prices will only come with an integrated approach to health care. Continue reading
KEY TAKEAWAY: Wells Fargo analysts, in a new report, discovered that the average sale, rebate and allowance (SRA) offered to payers has jumped from 28% to 41% since 2012. But even with the discount(s) list prices remain high. According to Memorial Sloan-Kettering’s Center for Health Policy and Outcomes, the average cost of new cancer drugs approved by the FDA in 2016 was $172,000. Continue reading
KEY TAKEAWAY: Total spending per person is now growing at faster rates than prior years, with 4.6% growth in 2016 compared to. 4.1% growth in 2015, which followed 2 years of sub-3% growth from 2012 to 2014. Spending growth in each year from 2012 to 2016 was almost entirely due to price increases. We saw particularly large increases in spending and price for administered drugs, emergency room (ER) visits, and surgical hospital admissions. (Source: The Health Care Cost Institute’s (HCCI) 2016 annual report on U.S. health care cost and utilization?