Nine to twelve years. That’s about how long most drug companies have to make serious money on new products before their patent protection ends. Then, generic companies enter the fray and prices, typically, plummet. Yet, two decades after coming to market, Herceptin (a drug used to treat breast and stomach cancer) was still priced at…
The patient arrived in my clinic, their right big toe the color of a spring strawberry. The lightest touch caused exquisite pain. Fortunately, I was able to prescribe a pill (an ancient medicine, actually) and the patient was better by the next day.
Too bad that simple treatment is becoming unaffordable, through a maddening combination of greed and regulatory failure.
Latuda is a drug to treat schizophrenia. It costs about $4,000 per month in the U.S. In Canada, the price is closer to $500.
Ibrance, a breast cancer drug, costs $10,000 more per month in the U.S. than in Canada.
Why these enormous price differences?
How is a physician supposed to know which medicine is most affordable under which insurance plan?
Fortunately, there are tools coming into use designed to help clinicians figure out patient-specific costs of any medication they prescribe. The tools (jargon alert!) are called RTBTs, for real-time benefit tools.
You wake up in the post-operative recovery area, still groggy, the full effects of the procedure obscured by an anesthetic haze. You begin to ponder several questions: Was the surgery a success? Did the surgeon find anything unexpected? How quickly will the procedure make you feel better?
There’s another question you might ask yourself. A few weeks from now, is anyone involved in your care going to send you a surprise bill?
Could ACOs be costing us money?
My visit to this well-intentioned dermatologist illustrates one of the flaws of this idea of consumer empowerment.
Here is an awful thing about high deductible health plans: They delay breast cancer diagnosis and get in the way of proper breast cancer care.
The problem with American healthcare is not the existence of greed.
The US is rapidly becoming a high out-of-pocket healthcare system, often with disastrous results.