Aimee Picchi: 5 Reasons Why Americans Pay So Much For Drugs
Submitted By Anonymous, Created 12/04/2015 - 12:38
- Lack of bargaining - Other governments bargain on behalf of their citizens, which helps to keep costs down
- High marketing costs - The U.S. allows drug companies to market directly to consumers, which isn't legal in Europe. That means pharmaceutical firms in America typically spend much more on marketing
- No caps on costs - When you cap costs a pharmaceutical company can't easily copy what Turing Pharmaceuticals did this year when it jacked up the price of a 62-year-old drug some 5,000 percent
- Opaque pricing - Figuring out how much a prescription medication costs can be difficult because there is no database or other sources of information that track increases in drug prices
- Lack of rationing or denials - Americans want medical treatment, regardless of the cost or outcome but other countries will reject paying for medications if they believe the drugs aren't worth it
Source: CBS News
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