The Institute for Clinical and Economic Review just reported that in 2017-2018 the increase in price for just seven medications accounted for $5.1 Billion in increase medical cost in the USA. That is shocking. I won’t name the medications, because to be honest, those medicines are so expensive and out of the price range for my clients in the Bahamas that it would be an insult to even write a prescription for those medicines…so I don’t use them.
Besides, those seven medications have a long list of very serious side effects that lead to very serious and costly terminal illnesses such as cancer and heart disease.
So what on Earth justifies the price increase by the manufacturers of these medications?
Shockingly, there were no new studies that demonstrated better effectiveness against their respective target diseases! There was no clinical evidence that those medications had been improved in any way. No new fancy injection systems. No new time release formulations or anything like this that they could point to and say why the price increased. If anything, there were more studies that demonstrated greater risks of injury or disease side effects from those seven medications. So by that observation, I would expect the price of those medications to go down…Not up…Not up by 5.1 billion!
I am not picking on those seven medications alone. There were smaller price increases for many other medications also. But those seven were the worst offenders in the industry.
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