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?
KEY TAKEAWAY: “That’s a really high LDL,” according to Dr. Topol, a cardiologist at the Scripps Research Institute. “We’re talking about a 70-plus-year-old man who is obese and doesn’t exercise. Just looking at the lab value, you would raise a big red flag.” He added: “I would never use the words ‘excellent health.’ How you could take these indices and say excellent health? That is completely contradicted.” But the bigger danger is the message this sends to the public at large. Continue reading
ASCO’s National Cancer Opinion Survey, a large, nationally representative survey conducted online by Harris Poll, found that the majority of Americans are unaware of several major risk factors for cancer—most notably obesity, which will soon overtake smoking as the largest preventable cause of cancer in the United States. Continue reading
From JAMA: “Although prices are often justified by the high cost of drug development, there is no evidence of an association between research and development costs and prices ; rather, prescription drugs are priced in the United States primarily on the basis of what the market will bear”. And I guess most pharma executives believe the market can bear a lot more. Continue reading