- Health care continues to be one of the top issues that voters want to hear candidates talk about during their 2018 congressional campaigns.
- One-fourth of voters say health care is the “most important issue” for 2018 candidates to discuss during their campaigns.
- While most have seen or heard advertisements for prescription drugs, about one in seven say they have talked to their doctor as a result of seeing an advertisement for a prescription drug.
Aging Boomers and cash strapped Millennial’s are feeling the effect of healthcare costs. Who can blame them? The media seems to be talking every week about the high price of prescription drugs or surprising expenses of even a short hospital stay. Savings can be wiped out with just one serious healthcare crisis for a family or individual.
The misguided suggestion of adding prescription drug list prices in DTC ads will do absolutely nothing to reduce drug prices. The only way to reduce drug prices is through a total disruption of our nation’s healthcare system. The drug companies like to point the finger at PBM’s but drug companies are reporting record profits.
Here in Florida the Democratic candidate for Governor has promised Medicare for all who can’t afford health insurance, and he wants to raise taxes on corporations to help pay for it. As of this writing, he has a 5 point lead over a Trump loving Republican who wants to help “build a wall”.
Last week while going to lunch in Boston with some clients I heard Millennial’s complain that the increase in their health insurance has wiped out any advances in their compensation and these are people in the biotech industry! As one told me “you would think that the drug industry would have an inside track to lower our health insurance costs”.
Then there are aging Boomers. Those who didn’t save enough are finding out that co-pays can be costly, even with Medicare. An attorney recently told me that he sees more seniors request to opt out of possible life saving treatments if “it’s going to place a financial burden on their families”.
What should voters know about healthcare costs?
1ne: There is no easy fix even with Congressional intervention.
2wo: Medicare for all may not be the answer.
3three: Drug companies are making record profits.
4our: Digital health is not going to save our healthcare system enough money to make a difference.
5ive: Drug company’s first customer is Wall Street, not patients. CEO compensation has to be tied to innovation and patient outcomes not stock prices.
6ix: Trump’s staff on prescription drug pricing all came from the drug industry.
Instead of Jeff Bezos and Elon Musk uses hundreds of millions of dollars to establish space hotels and colonize Mars, perhaps they could try to disrupt our healthcare system to benefit their fellow American’s.