In the healthcare industry, drug pricing is a particularly complex and difficult game. On the one hand, it takes decades of hard work from thousands of scientists to develop new drugs, many of which don’t even make it to market. This hard work doesn’t come free, so drugs need to be priced in order to turn profits that pay salaries and fund future research.
However, because the customers are people in need of medical treatment, ethical questions arise. Most people agree that running a business and making money are fine on their own — everyone needs food and shelter. But with drug production, if prices are too high, people who can’t afford the necessary medicine could die
Using the most recent data (2013) from the Centers for Medicare and Medicaid Services, HealthGrove, a health research site powered by Graphiq, took a look at some of the most expensive drugs covered by Medicare in the United States. The data source only provides information for drugs that had been prescribed to 500,000 patients or more in 2013. Keep in mind that there are more expensive drugs out there — they’re just prescribed to fewer people.
In the healthcare industry, drug pricing is a particularly complex and difficult game. On the one hand, it takes decades of hard work from thousands of scientists to develop new drugs, many of which don’t even make it to market. This hard work doesn’t come free, so drugs need to be priced in order to turn profits that pay salaries and fund future research.
However, because the customers are people in need of medical treatment, ethical questions arise. Most people agree that running a business and making money are fine on their own — everyone needs food and shelter. But with drug production, if prices are too high, people who can’t afford the necessary medicine could die
Using the most recent data (2013) from the Centers for Medicare and Medicaid Services, HealthGrove, a health research site powered by Graphiq, took a look at some of the most expensive drugs covered by Medicare in the United States. The data source only provides information for drugs that had been prescribed to 500,000 patients or more in 2013. Keep in mind that there are more expensive drugs out there — they’re just prescribed to fewer people.
In the healthcare industry, drug pricing is a particularly complex and difficult game. On the one hand, it takes decades of hard work from thousands of scientists to develop new drugs, many of which don’t even make it to market. This hard work doesn’t come free, so drugs need to be priced in order to turn profits that pay salaries and fund future research.
However, because the customers are people in need of medical treatment, ethical questions arise. Most people agree that running a business and making money are fine on their own — everyone needs food and shelter. But with drug production, if prices are too high, people who can’t afford the necessary medicine could die
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