Employee Benefit Plan Consulting, Actuarial and Brokerage

How to Cut U.S. Drug Prices: Experts Weigh In

Dec 12, 2018

Americans pay the highest prices in the world for the prescription drugs and we have no real system in place for holding down drug prices. Drug manufacturers with monopoly products can raise prices to whatever extent the market will bear.  How do you fix that?  Look abroad. Some countries simply refuse to pay if a drug is considered too expensive relative to the benefits it delivers.  Or, the insurer could make a drug more accessible by cutting cost-sharing or by clearing away administrative hurdles. Often, for a lower price, insurers are more willing to provide easier access, which increases sales of that drug.  In any scenario, to continue on with current trend lines is mathematically impossible and the issue cannot be perpetually kicked down the road.  Read full article here

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