Stop Unsustainable Drug Prices

Feb 04, 2016 - 07:25 AM

Today’s New York Times provides arguments from drug companies justifying the excessive jump in pharmaceutical prices in recent years, saying the higher prices won’t impact patients. 

Hospitals’ top priority is providing patients with safe and effective care, but the skyrocketing costs of pharmaceuticals can make doing so difficult. The high cost of prescription drugs leads to higher out-of-pocket costs for patients, who then may not be able to afford their medications. This may cause them to require further health care interventions – interventions that would have been avoidable if they had been able to take the original prescription. Indeed, these prices are putting a strain on the entire health care system – the drug companies’ statement that they only hurt a hospital’s bottom line is pure fantasy.

And patients aren’t the only ones suffering the effects of the higher prices -- taxpayers are also hurt. Because of the way Medicare pays for many drugs, increasing the base price means higher costs to the Medicare program.

Hospitals have worked hard to hold costs down. The same should be expected from the drug sector. The only ones who benefit from these unsustainable drug prices are pharmaceutical companies and their shareholders.

Related News Articles

Headline
CMS approves Ariz. Medicaid waiver with work requirement
The Centers for Medicare…
Perspective
Perspective: Turning the Tide on the Prescription Drug Spending Crisis
Last week, I shared a few areas where we can advance health in America this year, even in a divided Congress.
Headline
FDA takes steps to spur OTC versions of naloxone
To encourage drug companies to seek approval for over-the-counter versions of naloxone, an emergency treatment for opioid overdose, the Food and Drug…
Headline
CDC: Rural patients more likely to receive opioid prescription
Patients in the most rural counties had an 87 percent greater chance of receiving an opioid prescription from their primary care provider between January 2014…
Headline
AHA Releases New Report that Shows Continued Rising Drug Prices and Drug Shortages are Disrupting Patient Care, Hospital Budgets
Continued rising drug prices, as well as shortages for many critical medications, are disrupting patient care and forcing hospitals to delay infrastructure and…
Headline
AHA recommends certain changes to Medicaid/CHIP managed care rule
AHA said it generally supports CMS’ efforts to grant greater state-level flexibility and reduce regulatory burden, but urged the agency to ensure Medicaid…