Linking the cost of prescription drugs in the United States to the prices paid in other high-income nations could have reduced American spending for the drugs by at least half in 2020, according to a new RAND Corporation study.
Modeling a proposal that would cap U.S. prices at 120% of what is paid in six other nations, researchers found that such a move would have cut U.S. spending on insulins and 50 top brand-name drugs by 52% during 2020—a savings of $83.5 billion. These savings are on top of already-lower U.S. “net” prices after rebates negotiated between drug companies and insurers.
The findings are published in the latest edition of the Journal of the American Medical Association.
“International reference pricing could yield considerable savings in the United States,” said Andrew Mulcahy, lead author of the study and a senior health policy researcher at RAND, a nonprofit, nonpartisan research organization. “While our analysis does not consider all issues that might be involved in adopting reference pricing, it does demonstrate the magnitude of the savings that might be achieved.”
High prescription drug prices have important implications for the […]
Isn’t maximizing profits written into the Constitution? History seems to indicate that the freedom to make, grow and protect your money is a founding principle. Be it slaves, railroads, social media or the latest version of high-tech regulation of prices and by extension profits is un-American.
Will,
Dogs can’t eat grapes.
While your reference escapes me I think my snark was missed.
Maybe I will have to move to Canada,