Evidence of recent weeks suggests that the battle of high drug pricing is one that big pharma risks losing, raising questions over the economic model of an industry that relies heavily on US profits to reward investors and finance new drugs. Pharmaceutical executives say their ability to price drugs in the US, according to what the market will bear allows them to cover the considerable cost of finding new, often revolutionary, treatments; the cost of developing and winning approval for a new drug now runs at $2.6bn, according to the Tufts Center for the Study of Drug Development, compared with $802m in 2003.
Perhaps the way to truly demonstrate problems with our health care system is to share personal stories about failures of living in what some say “is the best healthcare system” in the world. This is a story of my friend Pete and I urge you to read and share this story so others might learn and understand that we still have a long way to go.
POST SUMMARY: Google searches for certain medical conditions will now bring up typical symptoms and treatments, along with details about how common the condition is. All answers are compiled, curated, and reviewed by a team of medical doctors at Google and the Mayo Clinic, using a combination of clinical knowledge and high-quality medical sources across the Internet.
Medical experts estimate that the failure to take prescription medications as directed costs some $300 billion a year in emergency room visits, in patient hospital care and extra visits to physicians offices. If you think it’s all due to drug costs think again. One study found that even in health plans where medications are free, rates of non-adherence were nearly 40%. With the drug industry facing a huge loss of revenue from patent expiration you would figure that drug industry and the government would work to decrease non-adherence rates but they just can’t see the ROI clear enough.