American healthcare is too profitable. It’s advantageous because Americans don’t take care of themselves and because there are too many companies between patients and doctors.
Category Archive: Cost of healthcare in the U.S.
“(STAT News) Merck CEO Ken Frazier said” “Given the role of medicines in society and the ethics around medicine, my personal view is that pharma CEOs can’t’ take the attitude that they’re going to maximize financial outcomes.” Well said, sir.
Scientists are arguing about the causes of obesity, which affects more than 40 percent of U.S. adults and costs the health system about $173 billion yearly. The meeting resulted in an implicit understanding of what obesity is not: a personal failing. That is ridiculous and means that we’re going to continue to experience high healthcare costs.
The purpose of any business is to make money, but can a corporation satisfy Wall Street and benefit the public it serves? Big oil, for example, has prioritized profits resulting in high gas prices. Medical expenses often hinder patients long after they have left the hospital. Why do prescription drugs need to cost so much?
The American healthcare industry is facing unparalleled challenges. An aging population, physician burnout, and lack of trust in government healthcare agencies are part of a huge problem that can’t be solved with bigger budgets.
When rationalizing their lofty price tags, one of the most common reasons pharma companies cite is that a high price is needed to make good on the money invested in research and development. According to a study, the amount of money spent on research and development (R&D) for new pharmaceutical drugs doesn’t correlate with high prices for the medications.
Gilead’s Trodelvy slashed the disease risk and helped extend patients’ lives by a median of 3.2 months over the doctors’ choices. The question is, how much will Gilead charge for their drug? If history is any indication, it will be a small fortune.
“We are hearing about it more and more,” said Jacqueline Reid, a government research analyst at the Office of Inspector General who has analyzed Medicare Advantage overbilling. It’s costing us billions and continues unchecked because Medicare has become too big. This is a summary of an article from the NY Times.