The costs of prescription drugs in the United States: pharmacists’ voice must be heard is an article released by the American Journal of Health-System Pharmacy on April 16, 2016. The article addresses the rising cost prescription drugs in today’s society and how healthcare spending affects millions of citizens. The article stated that the reason why healthcare expenditure is rising is due to the aging population and the increasing prevalence of noncommunicable diseases. Without counting severe conditions, chronic conditions are highest in the older population ages 65 and above.
The article further stated that the total of healthcare expenditures, as reported by the Centers for Medicare and Medicaid Services (CMS), amounted to $3 trillion if 2014 in which the bulk of the spending is on retail prescription drugs. In 2011, healthcare spending particularly on medicine was $194 billion in total (Abramowitz & Cobaugh, 2016 and GEN News, 2012).
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Other factors include the use of distribution systems, drug shortages, pharmaceutical manufacturer mergers and acquisitions, patent expirations, cost and availability of raw materials, and profit driven businesses (Abramowitz & Cobaugh, 2016). The rising cost of prescription drugs and healthcare in general challenges the access and affordability of quality care to consumers not just in the United but also consumers around the world (GEN News, 2012). In addition to cost and access to care, the continuous rise in prescriptions drugs may have a negative effect on utilization of healthcare and satisfaction with healthcare system (Abramowitz & Cobaugh,
Lynas, K. (2010, November/December). Canadian pharmacists journal: Universal pharmacare could cut up to $10.7 billion from Canada’s annual drug bill. Notes, 143(6), 262. doi: 10.3821/1913-701X-143.6.262
1). People have begun to rely on prescription drugs, more today than ever before. This is one of the immediate reasons for the breakdown in the patient-doctor relationship – the evolution and rise in the development of pharmaceuticals and prescription drugs (Changing, pg 3). For instance, the Baby Boomers are recognized nationally for taking the most prescription drugs. According to my mother, patients rely primarily on prescription drugs rather than other forms of treatment because of the fast paced economy and because society as a whole has adopted a “lack of caring” attitude. “As people age, all they want are pills.”-Mother
The prices of prescription drugs in the United States are by far the highest in the world. [1] On average, Europeans pay 40% less than Americans for the same medications. [2] Consumers have been resorting to several ways, sometimes putting themselves in harm’s way, to alleviate the burden of high prescription drug costs. Some buy their medications online or cross the borders to neighboring countries so they would be able to afford buying their needed medications. Others have resorted to the illegal act of selling their unused medications in online forums just to recover part of their expenses. Many factors contribute to the increased drug prices in the United States including research and
The rise in drug prices is causing the public to ask why this is so and why there isn’t anything being done, or what the reason could be for sky high prices. Some of the reasons include pharmaceutical companies setting their drug prices
The rise in costs of prescription medicines affects all sectors of the health care industry, including private insurers, public programs, and patients. Spending on prescription drugs continues to be an important health care concern, particularly in light of rising pharmaceutical costs, the aging population, and increased use of costly specialty drugs. In recent history, increases in prescription drug costs have outpaced other categories of health care spending, rising rapidly throughout the latter half of the 1990s and early 2000s. (Kaiseredu.org, 2012).
Prescription drug prices rose three times faster than inflation in the decade between 1981 and 1991, making the pharmaceutical industry the nation's most profitable business. Prescription drugs even exceeded the rapidly rising inflation rate for all other medical services. They now represent at least 10% of all the medical
One of the greatest problems we face in America today is the use and abuse of drugs in our country. It is important to find a solution that works within our country to combat the growing populations of our nation’s prisons, keep the supply of drugs under control, and have adequate prevention programs in place to help people who need treatment. Throughout reading the material for this course and the research conducted on the topics described in this paper, it is clear that the methods used in earlier years were not able to achieve the results we would like to see. Advocating for reform and the support of the American people can help with the desperate need for change.
People all over the world, continue to be tendered prescription medication, which in many cases further complicate health issues with its myriad of side effects. In fact, statistics have shown that approximately 100,000 people around the world die as a result of prescription drugs annually (Smith, 2012). On the contrary, according
Medication cost dramatically, affect both patients and prescribers. Chapter 3 within this week’s readings from Woo and Robinson (2016), focuses on Rational Drug Selections, emphasizes on cost as a deal breaker for many patients with medication compliance. Insurance companies are tightening their policies to the extreme in not covering medication expenses, leaving patients limited choices as well as resources to becoming forced to pay out of pocket or not take their medications. It is vital that prescribers practice within the means of each individual patient, meaning, “prescribing the most cost-effective drug for the patient” (Woo & Robinson, 2016, p. 32). Within chapter 1, Woo and Robinson mention, “Statistics cited often placed patient adherence
In the United States every year the percentage of deaths related to overdose increases drastically. Heroin is one of the top drugs in the United States used and cause of overdose. There are numerous types of heroin that is being sold on the streets because of different things however I’m talking about heroin in general. This drug has become a nationwide problem and is affecting many families and friendships who have loved addicted to or using heroin. Once addictions get too bad friends and family begin to distant themselves and the person more than likely start to feel alone and the drug is the only thing to comfort them. Abusers go for the drug that is easier to get ahold of rather going after the drug that is difficult to get their hands on. Heroin has become more prevalent in teenagers and young adults than any other drug, kills more people every year and was made to help those addicted to morphine.
The utilization of prescription drugs has increased across all age groups in the US, with 50% of Americans taking at least one prescription drug (Rice & Unruh, 2016). This can be attributed to physician-induced demand, substitution of pharmaceuticals for other medical regimens, commercialization of the products, increase in the aging population and drug insurance coverage, and also the increase in chronic conditions. Lathan discusses the startling fact that the rate increase of prescription drugs purchased was considerably higher in contrast to the US population growth - 71% and 9% respectively (Rice & Unruh, 2016, p. 264).
According to Cothran (2015), “Over the past five decades, there have been major shifts in how we pay for hospital care, physician services, long term care, prescription drugs, and other services and products”. Before Medicare and Medicaid, about half of hospital care was not covered by insurance. About 100 % of the spending on prescription medications came from the customers in the 1960s (Cothran, 2015). But, in 2014, customers spent 15% less. Team B will explain our position on national health care spending in the United States. We will also include: current national health care costs, if we are spending too much or not, should we add or cut spending and why, how health care needs are paid for, and future economic needs of the health
Spending on specialty drug medication increase annually in the United States. Approximately 3.1 percent or $84 billion of the America’s National health spending were consumed by specialty drugs purchases in 2012 (The Pew Charitable Trusts, 2015). The future is
Pharmaceutical companies are one of the fastest growing businesses in the United States, because individuals want to be healthy and live longer. In order to stay healthy, individuals are more likely to have multiple prescriptions or over-the-counter medication, especially the elderly. Every month, about half of the population of Americans take different forms of medication such as, vitamins, birth control or antibiotics. These different forms of medication help millions of people in different ways and save lives. The article, “High drug prices,” states that the “U.S. now spends approximately 15.0 percent of its GDP on health care” (Okunade). The prescription drug cost is one of the major concerns in the United States because of the fluctuating prices. Another article stated, “The challenge here is that drug prices are growing astronomically and becoming not only unaffordable to health-care system, but to consumers as well” (Mangan). The cost of medication is not only a burden on the government, but also to individuals that have various medications, and especially those who pay out of pocket cost. There are different reasons to explain the increase in prescription drug cost; the high demand for medication due to the baby boomers, patent protection on most drugs, the use of drugs instead utilizing preventive measures.
One topic rising in popularity is the escalating prices of prescription medicines in the United States. There is no denying their importance; they are known for being associated with saving people lives, maintaining people’s health, and improving the lifestyles for consumers.